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Reconciling economic and biological modeling of migratory fish stocks: Optimal management of the Atlantic salmon fishery in the Baltic Sea

  • Kulmala, Soile
  • Laukkanen, Marita
  • Michielsens, Catherine

The paper puts forward a model of the Atlantic salmon fishery in the Baltic Sea that integrates the salient biological and economic characteristics of migratory fish stocks. Designed to be compatible with the framework used for actual stock assessments, the model accounts for agestructured population dynamics, the seasonal harvest and competing harvesting by commercial and recreational fishermen. It is calibrated using data and parameter estimates for the Simojoki River stock. The socially optimal policy for maximizing discounted net benefits from the fishery within an uncertain environment is determined using a dynamic programming approach and numerical solution method. Our results indicate that substantial economic benefits could be realized under optimal management without compromising stock sustainability.

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Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 64 (2008)
Issue (Month): 4 (February)
Pages: 716-728

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Handle: RePEc:eee:ecolec:v:64:y:2008:i:4:p:716-728
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolecon

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  1. 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.
  2. Marita Laukkanen, 2001. "A Bioeconomic Analysis of the Northern Baltic Salmon Fishery: Coexistence versus Exclusion of Competing Sequential Fisheries," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 18(3), pages 293-315, March.
  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. Laukkanen, Marita, 2003. "Cooperative and non-cooperative harvesting in a stochastic sequential fishery," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 454-473, March.
  5. Sethi, Gautam & Costello, Christopher & Fisher, Anthony & Hanemann, Michael & Karp, Larry, 2005. "Fishery management under multiple uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 50(2), pages 300-318, September.
  6. Trond Bjørndal & Daniel Gordon & Veijo Kaitala & Marko Lindroos, 2004. "International Management Strategies for a Straddling Fish Stock: A Bio-Economic Simulation Model of the Norwegian Spring-Spawning Herring Fishery," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 29(4), pages 435-457, December.
  7. Robert Deacon & Charles Kolstad & Allen Kneese & David Brookshire & David Scrogin & Anthony Fisher & Michael Ward & Kerry Smith & James Wilen, 1998. "Research Trends and Opportunities in Environmental and Natural Resource Economics," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 11(3), pages 383-397, April.
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