Wild salmon fishing: Harvesting the old or young?
This paper develops an optimal harvesting model for the wild Atlantic salmon (Salmo salar), where various age classes of the population are included. It is shown that the marginal value–fecundity relationship of the spawning population, comprising young and old fish, is crucial for the optimal fishing composition. If the value–fecundity ratio is higher for the old spawning population, this age-class should be harvested more aggressively than the young spawning population, and vice versa. It is also shown that changes in prices and interest rate have similar as well as different effects than in the standard fishing biomass model. Small changes in the relative price for the harvestable age classes could either increase or reduce the optimal harvest intensity, or have no effect. While a higher interest rate tends to increase fishing, there also exist intervals of the interest rate in which the optimal harvest program is not affected by changes in the interest rate.
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- Diekert, Florian K. & Hjermann, Dag Ø. & Nævdal, Eric & Stenseth, Nils Chr., 2010. "Non-cooperative exploitation of multi-cohort fisheries--The role of gear selectivity in the North-East Arctic cod fishery," Resource and Energy Economics, Elsevier, vol. 32(1), pages 78-92, January.
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- Tahvonen, Olli, 2009. "Economics of harvesting age-structured fish populations," Journal of Environmental Economics and Management, Elsevier, vol. 58(3), pages 281-299, November.
- Kulmala, Soile & Laukkanen, Marita & Michielsens, Catherine, 2008.
"Reconciling economic and biological modeling of migratory fish stocks: Optimal management of the Atlantic salmon fishery in the Baltic Sea,"
Elsevier, vol. 64(4), pages 716-728, February.
- Kulmala, Soile & Laukkanen, Marita & Michielsens, Catherine, 2006. "Reconciling Economic and Biological Modeling of Migratory Fish Stocks:Optimal Management of the Atlantic Salmon Fishery in the Baltic Sea," Discussion Papers 11857, MTT Agrifood Research Finland.
- Naevdal, Eric & Olaussen, Jon Olaf & Skonhoft, Anders, 2012. "A bioeconomic model of trophy hunting," Ecological Economics, Elsevier, vol. 73(C), pages 194-205.
- Quaas, Martin F. & Requate, Till & Ruckes, Kirsten & Skonhoft, Anders & Vestergaard, Niels & Voss, Rudi, 2013. "Incentives for optimal management of age-structured fish populations," Resource and Energy Economics, Elsevier, vol. 35(2), pages 113-134.
- McConnell, Kenneth E. & Sutinen, Jon G., 1979. "Bioeconomic models of marine recreational fishing," Journal of Environmental Economics and Management, Elsevier, vol. 6(2), pages 127-139, June.
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