Species diversity, fishing induced change in carrying capacity and sustainable fisheries management
It is well established in the fisheries management literature that marine ecosystems are complex and marine species depend on one another. As a result, it is important to account for species diversity to ensure sustainable management. In addition, recent research published in the marine sciences literature has provided unequivocal evidence that fishing activities destroy habitats and inhibit production of planktons. This paper illustrates that if a conventional bioeconomic model is employed, an optimum effort policy as opposed to quota appears to result in sustainable management even if fishing impacts carrying capacity. However, the so-called optimum effort may collapse the stock if species diversity is not accounted for. Conversely, if species diversity and the impact of fishing on carrying capacity are considered, neither the equilibrium quota nor effort may guarantee sustainable yield.
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- Sanchirico, James & Wilen, James, 1998. "Marine Reserves: Is There a Free Lunch?," Discussion Papers dp-99-09, Resources For the Future.
- Barbier, Edward B., 2000. "Valuing the environment as input: review of applications to mangrove-fishery linkages," Ecological Economics, Elsevier, vol. 35(1), pages 47-61, October.
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- Akpalu, Wisdom, 2009. "Economics of biodiversity and sustainable fisheries management," Ecological Economics, Elsevier, vol. 68(10), pages 2729-2733, August.
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