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Effectiveness of harvest strategies in achieving multiple management objectives in a multispecies fishery

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  • Sean Pascoe
  • Trevor Hutton
  • Eriko Hoshino
  • Miriana Sporcic
  • Satoshi Yamasaki
  • Tom Kompas

Abstract

Fisheries management is characterised by multiple objectives, some of which may be complementary, while others may require trade‐offs between outcomes. Balancing these objectives is made more complex in the case of multispecies and multigear fisheries. In this paper, we develop a bioeconomic model that captures the key elements of such a fishery to test a range of potential harvest strategies to provide insights into how economic target reference points could lead to both desirable and undesirable management outcomes (e.g. discards). The model is developed as a long‐run optimisation model to identify target reference points to achieve multispecies maximum economic yield, and a dynamic recursive optimisation model, which includes more realistic representation of fishers’ behaviour, such as discards and trading of under‐caught species quotas. The potential economic, social and ecological impacts are evaluated using data envelopment analysis (DEA). The results suggest that the use of proxy target reference points can result in short‐term economic benefits at the cost of slower stock recovery and higher discarding. Limiting the number of species subject to quota controls may also prove beneficial in multispecies fisheries, while ensuring quota markets are efficient is likely to produce benefits irrespective of the harvest strategy adopted.

Suggested Citation

  • Sean Pascoe & Trevor Hutton & Eriko Hoshino & Miriana Sporcic & Satoshi Yamasaki & Tom Kompas, 2020. "Effectiveness of harvest strategies in achieving multiple management objectives in a multispecies fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(3), pages 700-723, July.
    • Handle: RePEc:bla:ajarec:v:64:y:2020:i:3:p:700-723
    DOI: 10.1111/1467-8489.12369
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    1. Rachel Nichols & Satoshi Yamazaki & Sarah Jennings, 2021. "How did a network of marine protected areas impact adjacent fisheries? Evidence from Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 65(1), pages 119-142, January.
    2. Cuilleret, Mathieu & Doyen, Luc & Gomes, Hélène & Blanchard, Fabian, 2022. "Resilience management for coastal fisheries facing with global changes and uncertainties," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 634-656.

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