Aanestad, Sigurd () (Dept. of Economics and Management, Norwegian College of Fishery Science, University of Tromsø) Sandal, Leif K. () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration) Eide, Arne () (Dept. of Economics and Management, Norwegian College of Fishery Science, University of Tromsø)
Abstract
This paper presents a management model for the Barents Sea capelin and cod fisheries including juvenile herring in the biological model as the young herring influences the cod-capelin system. The objective of the study is to balance model-complexity of biology and economics when investigating possible optimal catch strategies given that one aims to maximize economic rent in the fishery. The three species constitute a highly dynamic system, also because prey-predation relations are functions of ages within each stock. A top-down approach is employed and the biological growth equations relate to stock biomass estimates. Economic relations are based on empirical data and previous studies. Optimal fishing strategies are identified by employing a numerical feedback rule for optimal fishing through dynamic programming. The feedback rule suggests that previous TAC (total allowable catch) levels on average have been too large for both capelin and cod over the past 30 years, according to the management objectives assumed in the study. Moreover, presence of some herring in the system is important for the economic yield although the herring fishery is closed. This indicates that a focus only on the capelin-predator role of herring is too narrow, as herring is also an important prey for cod.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Department of Finance and Management Science, Norwegian School of Economics and Business Administration in its series Discussion Papers with number
2007/29.
Length: 31 pages Date of creation: 22 Dec 2007 Date of revision: Handle: RePEc:hhs:nhhfms:2007_029
Contact details of provider: Postal: NHH, Department of Finance and Management Science, Helleveien 30, N-5045 Bergen, Norway Phone: +47 55 95 92 93 Fax: +47 55 95 96 50 Email: Web page: http://www.nhh.no/for/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Stein Fossen).
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.: