Maximizing profits and conserving stocks in the Australian Northern Prawn Fishery
The Australian Northern Prawn Fishery (NPF) is one of the few that has adopted a dynamic version of a 'maximum economic yield' (MEY) target, and, on this basis, the fishery is undergoing a process of substantial stock rebuilding. This study details the bioeconomic model used to provide scientific management advice for the NPF, in terms of the amount of allowable total gear length in the fishery, for both the MEY target and the path to MEY. It combines the stock assessment process for two species of tiger prawns with a specification for discounted economic profits, where the harvest function in the profit equation is stock-dependent. Results for the NPF show a substantial 'stock effect', indicating the importance of conserving fish stocks for profitability. MEY thus occurs at a stock size that is larger than that at maximum sustainable yield, leading to a 'win-win' situation for both the industry (added profitability) and the environment (larger fish stocks and lower impact on the ecosystem). Sensitivity results emphasize this effect by showing that the MEY target is much more sensitive to changes in the price of prawns and the cost of fuel, and far less so to the rate of discount. Copyright 2010 The Authors. Journal compilation 2010 Australian Agricultural and Resource Economics Society Inc. and Blackwell Publishing Asia Pty Ltd.
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 54 (2010)
Issue (Month): 3 (07)
|Contact details of provider:|| Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200|
Phone: 0409 032 338
Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-8489
More information through EDIRC
|Order Information:||Web: http://ordering.onlinelibrary.wiley.com/subs.asp?ref=1467-8489&doi=10.1111/(ISSN)1467-8489|
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.:
- Ahmed, Mahfuzuddin & Boonchuwongse, Pongpat & Dechboon, Waraporn & Squires, Dale, 2007. "Overfishing in the Gulf of Thailand: policy challenges and bioeconomic analysis," Environment and Development Economics, Cambridge University Press, vol. 12(01), pages 145-172, February.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003.
"Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery,"
International and Development Economics Working Papers
idec03-3, International and Development Economics.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2004. "Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery," Applied Economics, Taylor & Francis Journals, vol. 36(15), pages 1631-1641.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003. "Technical Efficiency Effects of Input Controls: Evidence from Australia's Banana Prawn Fishery," Economics and Environment Network Working Papers 0304, Australian National University, Economics and Environment Network.
- Richard Horan & James Shortle, 1999. "Optimal Management of Multiple Renewable Resource Stocks: An Application to Minke Whales," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 13(4), pages 435-458, June.
When requesting a correction, please mention this item's handle: RePEc:bla:ajarec:v:54:y:2010:i:3:p:281-299. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.