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Incorporating economics into fishery policies: Developing integrated ecological-economics harvest control rules

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  • Rosa, Renato
  • Costa, Tiago
  • Mota, Rui Pedro

Abstract

Despite the efforts of management authorities, several fish stocks continue to be harvested at unsustainable levels. While integrating economics into catch advice has been identified as key in developing more effective management, few studies investigate how bioeconomic modelling can inform decision-making. At the same time, increasing evidence has been gathered on the occurrence of regime shifts in marine ecosystems, raising greater concerns regarding fish stocks' recovery ability. Policy evaluation methods, however, still resort to compensation population models. As a result, these may overestimate reproductive success, thus jeopardizing the design and evaluation of stock rebuilding policies. This paper addresses those challenges proposing a methodology that approximates a harvest control rule using an age-structured bioeconomic model. As a result, we deliver a policy rule that complies with current advice procedures and endogenously captures economics. Also, we consider concerns on the existence of regime shifts in marine populations and estimate a bioeconomic model with critical depensation. Results from our case study suggest that policies neglecting the existence of critical depensation may compromise stock rebuilding objectives and might even result in fishery collapses. Using bioeconomic modelling to define harvest control rules may enhance policy design aimed at reconciling fisheries' economic returns and stock recovery.

Suggested Citation

  • Rosa, Renato & Costa, Tiago & Mota, Rui Pedro, 2022. "Incorporating economics into fishery policies: Developing integrated ecological-economics harvest control rules," Ecological Economics, Elsevier, vol. 196(C).
    • Handle: RePEc:eee:ecolec:v:196:y:2022:i:c:s0921800922000805
    DOI: 10.1016/j.ecolecon.2022.107418
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    References listed on IDEAS

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    1. Renato Rosa & João Vaz & Rui Mota & Alexandra Silva, 2018. "Preference for Landings’ Smoothing and Risk of Collapse in Optimal Fishery Policies: The Ibero-Atlantic Sardine Fishery," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 71(4), pages 875-895, December.
    2. Ute Kapaun & Martin Quaas, 2013. "Does the Optimal Size of a Fish Stock Increase with Environmental Uncertainties?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(2), pages 293-310, February.
    3. Polasky, Stephen & de Zeeuw, Aart & Wagener, Florian, 2011. "Optimal management with potential regime shifts," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 229-240, September.
    4. José-María Da-Rocha & Rosa Mato-Amboage, 2016. "On the Benefits of Including Age-Structure in Harvest Control Rules," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 619-641, August.
    5. Ren, Bijie & Polasky, Stephen, 2014. "The optimal management of renewable resources under the risk of potential regime shift," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 195-212.
    6. Olli Tahvonen & Martin Quaas & Jörn Schmidt & Rudi Voss, 2013. "Optimal Harvesting of an Age-Structured Schooling Fishery," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(1), pages 21-39, January.
    7. Tahvonen, Olli & Quaas, Martin F. & Voss, Rüdiger, 2018. "Harvesting selectivity and stochastic recruitment in economic models of age-structured fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 659-676.
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    Cited by:

    1. Haoran Pan & Pierre Failler & Qianyi Du & Christos Floros & Loretta Malvarosa & Emmanuel Chassot & Vincenzo Placenti, 2022. "An Inter-Temporal Computable General Equilibrium Model for Fisheries," Sustainability, MDPI, vol. 14(11), pages 1-23, May.
    2. Mota, Rui Pedro & Nichols, Rachel, 2023. "Habitat considerations in optimal fisheries recovery," Ecological Economics, Elsevier, vol. 214(C).

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