Sushi or fish fingers? Seafood diversity, collapsing fish stocks, and multi-species fishery management
AbstractWe present a model of a multi-species fishery and show that (i) consumer preferences for seafood diversity may trigger a sequential collapse of fish stocks under open-access fishery, (ii) the stronger the preferences are for diversity the higher is the need for coordinated multi-species regulation, (iii) second-best optimal management of only one (or a few) species is less strict than socially optimal management of the same species. Finally, (iv) myopic regulation of one species, ignoring spill-overs to other species, may cause depletion of other stocks that would not be depleted under open access. --
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Bibliographic InfoPaper provided by Christian-Albrechts-University of Kiel, Department of Economics in its series Economics Working Papers with number 2012-03.
Date of creation: 2012
Date of revision:
marine biodiversity; fishery economics; product differentiation;
Other versions of this item:
- Martin F. Quaas & Till Requate, 2013. "Sushi or Fish Fingers? Seafood Diversity, Collapsing Fish Stocks, and Multispecies Fishery Management," Scandinavian Journal of Economics, Wiley Blackwell, vol. 115(2), pages 381-422, 04.
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
- Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-03-14 (Agricultural Economics)
- NEP-ALL-2012-03-14 (All new papers)
- NEP-ENV-2012-03-14 (Environmental Economics)
- NEP-REG-2012-03-14 (Regulation)
- NEP-RES-2012-03-14 (Resource Economics)
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