Advanced Search
MyIDEAS: Login

Do Species Interactions and Stochasticity Matter to Optimal Management of Multispecies Fisheries?

Contents:

Author Info

  • Poudel, Diwakar

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Sandal, Leif K.

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Steinshamn, Stein I.

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Kvamsdal, Sturla F.

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

Registered author(s):

    Abstract

    The multispecies fisheries management looks at a bigger picture in addressing the long-term consequences of present decisions. This implies an ecosystem management that includes a number of species and their physical, biological and economic interactions. These interactions make the growth of resources stochastic and increase complexity in understanding stock dynamics and optimal catch for such a stochastic and multiple stocks´ system. To address the issue of identifying optimal catch of stochastically growing multi stocks, we have formulated and applied a time-continuous stochastic model. The model contributes to multispecies bioeconomic management of marine ecosystems. An application of model in a predator-prey relationship in Barent Sea revealed that the optimal catch for stochastically growing stocks in a multispecies interaction model is different from the deterministic model.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. 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.
    File URL: http://www.nhh.no/Admin/Public/DWSDownload.aspx?File=%2fFiles%2fFiler%2finstitutter%2ffor%2fdp%2f2012%2f0112.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by Department of Finance and Management Science, Norwegian School of Economics in its series Discussion Papers with number 2012/1.

    as in new window
    Length: 34 pages
    Date of creation: 30 Jan 2012
    Date of revision:
    Handle: RePEc:hhs:nhhfms:2012_001

    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

    Related research

    Keywords: Bioeconomic model; multispecies; species interaction; time-continuous stochasticity;

    Find related papers by JEL classification:

    This paper has been announced in the following NEP Reports:

    References

    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.:
    as in new window
    1. Singh, Rajesh & Weninger, Quinn & Doyle, Matthew, 2006. "Fisheries management with stock growth uncertainty and costly capital adjustment," Journal of Environmental Economics and Management, Elsevier, vol. 52(2), pages 582-599, September.
    2. James Sanchirico & Michael Springborn, 2011. "How to Get There From Here: Ecological and Economic Dynamics of Ecosystem Service Provision," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(2), pages 243-267, February.
    3. Clark, Colin W. & Kirkwood, Geoffrey P., 1986. "On uncertain renewable resource stocks: Optimal harvest policies and the value of stock surveys," Journal of Environmental Economics and Management, Elsevier, vol. 13(3), pages 235-244, September.
    4. Rognvaldur Hannesson, 1975. "Fishery Dynamics: A North Atlantic Cod Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 8(2), pages 151-73, May.
    5. Posch, Olaf & Trimborn, Timo, 2010. "Numerical solution of continuous-time DSGE models under Poisson uncertainty," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Leibniz Universität Hannover dp-450, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    6. R. Quentin Grafton & Leif K. Sandal & Stein Ivar Steinshamn, 2000. "How to Improve the Management of Renewable Resources: The Case of Canada's Northern Cod Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 570-580.
    7. Reed, William J., 1979. "Optimal escapement levels in stochastic and deterministic harvesting models," Journal of Environmental Economics and Management, Elsevier, vol. 6(4), pages 350-363, December.
    8. Sethi, Gautam & Costello, Christopher & Fisher, Anthony C. & Hanemann, W. Michael & Karp, Larry S, 2002. "Fishery management under multiple uncertainty," CUDARE Working Paper Series 929, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
    9. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711.
    10. Charles, Anthony T. & Munro, Gordon R., 1985. "Irreversible Investment and Optimal Fisheries Management: A Stochastic Analysis," Marine Resource Economics, Marine Resources Foundation, vol. 1(3).
    11. Anthony Scott, 1955. "The Fishery: The Objectives of Sole Ownership," Journal of Political Economy, University of Chicago Press, vol. 63, pages 116.
    12. Kasperski, Stephen, 2010. "Optimal Multispecies Harvesting in the Presence of a Nuisance Species," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61718, Agricultural and Applied Economics Association.
    13. Ragnar Arnason & Leif K. Sandal & Stein Ivar Steinshamn & Niels Vestergaard, 2004. "Optimal Feedback Controls: Comparative Evaluation of the Cod Fisheries in Denmark, Iceland, and Norway," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 531-542.
    14. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
    15. Bruce McGough & Andrew J. Plantinga & Christopher Costello, 2009. "Optimally Managing a Stochastic Renewable Resource under General Economic Conditions," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(1), pages 56.
    16. Smith, Vernon L, 1969. "On Models of Commercial Fishing," Journal of Political Economy, University of Chicago Press, vol. 77(2), pages 181-98, March/Apr.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:hhs:nhhfms:2012_001

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stein Fossen).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.