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Economics of biodiversity and sustainable fisheries management

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  • Akpalu, Wisdom

Abstract

Marine ecosystems are complex, and many marine species are ecologically interdependent. As a result, losing a species could produce a cascading effect on other species. Fishery scientists advocate an ecosystem-based approach to fishery management to meet long-term sustainable goals. This paper models the complex interrelationships among species and the relationship between biomass growth and phenotypic diversity. We found that the equilibrium stock and catch/yield levels are overestimated when the diversity is not accounted for. Consequently, if species are diverse, fishery policy based on a single fishery management could overestimate catch potentials and potentially results in biological overfishing and stock collapse.

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  • Akpalu, Wisdom, 2009. "Economics of biodiversity and sustainable fisheries management," Ecological Economics, Elsevier, vol. 68(10), pages 2729-2733, August.
    • Handle: RePEc:eee:ecolec:v:68:y:2009:i:10:p:2729-2733
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    References listed on IDEAS

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    3. William A. Brock & Anastasios Xepapadeas, 2003. "Valuing Biodiversity from an Economic Perspective: A Unified Economic, Ecological, and Genetic Approach," American Economic Review, American Economic Association, vol. 93(5), pages 1597-1614, December.
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    6. Ransom A. Myers & Boris Worm, 2003. "Rapid worldwide depletion of predatory fish communities," Nature, Nature, vol. 423(6937), pages 280-283, May.
    7. Sterner, Thomas, 2007. "Unobserved diversity, depletion and irreversibility The importance of subpopulations for management of cod stocks," Ecological Economics, Elsevier, vol. 61(2-3), pages 566-574, March.
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    Cited by:

    1. Akpalu, Wisdom & Bitew, Worku T., 2011. "Species diversity, fishing induced change in carrying capacity and sustainable fisheries management," Ecological Economics, Elsevier, vol. 70(7), pages 1336-1343, May.
    2. Wisdom Akpalu & Isaac Dasmani & Ametefee K. Normanyo, 2013. "Optimum Fisheries Management Under Climate Variability: Evidence from Artisanal Marine Fishing in Ghana," WIDER Working Paper Series wp-2013-052, World Institute for Development Economic Research (UNU-WIDER).
    3. Stephen T. Homer, 2023. "British Gen Z perceptions of sustainable fisheries: developing a measurement instrument," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(5), pages 4827-4854, October.
    4. Akpalu, Wisdom & Vondolia, Godwin K., 2012. "Bioeconomic model of spatial fishery management in developing countries," Environment and Development Economics, Cambridge University Press, vol. 17(2), pages 145-161, April.
    5. Quérou, N. & Tomini, A., 2013. "Managing interacting species in unassessed fisheries," Ecological Economics, Elsevier, vol. 93(C), pages 192-201.
    6. Akpalu, Wisdom & Dasmani, Isaac & Normanyo, Ametefee K., 2013. "Optimum Fisheries Management Under Climate Variability: Evidence from Artisanal Marine Fishing in Ghana," WIDER Working Paper Series 052, World Institute for Development Economic Research (UNU-WIDER).

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