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Optimal Feedback Controls: Comparative Evaluation of the Cod Fisheries in Denmark, Iceland, and Norway

Author

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  • Ragnar Arnason
  • Leif K. Sandal
  • Stein Ivar Steinshamn
  • Niels Vestergaard

Abstract

The economic efficiencies of the Danish, Icelandic, and Norwegian cod fisheries are examined. For this purpose, nonlinear aggregate models of these fisheries are constructed. Comparing the calculated optimal harvest and biomass quantities with the actual fisheries provides a measure of the degree of efficiency in these fisheries. The comparisons confirm that the cod harvesting policies of these countries have been hugely inefficient in the past. It appears that inefficiency has been increasing over the last three to four decades, even after TAC regulations replaced open access, indicating that the management policies adopted by all three countries have failed to cure overfishing. Copyright 2004, Oxford University Press.

Suggested Citation

  • Ragnar Arnason & Leif K. Sandal & Stein Ivar Steinshamn & Niels Vestergaard, 2004. "Optimal Feedback Controls: Comparative Evaluation of the Cod Fisheries in Denmark, Iceland, and Norway," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 531-542.
  • Handle: RePEc:oup:ajagec:v:86:y:2004:i:2:p:531-542
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    File URL: http://hdl.handle.net/10.1111/j.0092-5853.2004.00597.x
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    References listed on IDEAS

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    1. C. Edwin Young & Paul C. Westcott, 2000. "How Decoupled Is U.S. Agricultural Support for Major Crops?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 762-767.
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    Cited by:

    1. Håkan Eggert & Ragnar Tveterås, 2013. "Productivity development in Icelandic, Norwegian and Swedish fisheries," Applied Economics, Taylor & Francis Journals, vol. 45(6), pages 709-720, February.
    2. 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.
    3. Kvamsdal, Sturla F. & Maroto, José M. & Morán, Manuel & Sandal, Leif K., 2016. "A bridge between continuous and discrete-time bioeconomic models: Seasonality in fisheries," Discussion Papers 2016/20, Norwegian School of Economics, Department of Business and Management Science.
    4. Sandal, Leif K. & Berge, Gerhard, 2004. "A method for numerical and analytical solutions to a class of nonlinear optimal control problems," Discussion Papers 2004/2, Norwegian School of Economics, Department of Business and Management Science.
    5. Ussif, Al-Amin M. & Sumaila, Ussif R., 2005. "Modeling the dynamics of regulated resource systems: a fishery example," Ecological Economics, Elsevier, vol. 52(4), pages 469-479, March.
    6. Diekert, Florian K. & Hjermann, Dag Ø. & Nævdal , Eric & Stenseth , Nils Chr., 2008. "Optimal Age- and Gear-specific Harvesting Policies for North-East Arctic Cod," Memorandum 16/2008, Oslo University, Department of Economics.
    7. Sturla Furunes Kvamsdal & Diwakar Poudel & Leif Kristoffer Sandal, 2016. "Harvesting in a Fishery with Stochastic Growth and a Mean-Reverting Price," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 63(3), pages 643-663, March.
    8. Stoeven, Max T. & Quaas, Martin F., 2012. "Privatizing renewable resources: Who gains, who loses?," Economics Working Papers 2012-02, Christian-Albrechts-University of Kiel, Department of Economics.
    9. Florian Diekert & Dag Hjermann & Eric Nævdal & Nils Stenseth, 2010. "Spare the Young Fish: Optimal Harvesting Policies for North-East Arctic Cod," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 47(4), pages 455-475, December.
    10. Elofsson, Katarina & Bengtsson, Goran & Gren, Ing-Marie, 2011. "Optimal Management of Invasive Species with Different Reproduction and Survival Strategies," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114343, European Association of Agricultural Economists.
    11. Quérou, N. & Tidball, M., 2010. "Incomplete information, learning, and natural resource management," European Journal of Operational Research, Elsevier, vol. 204(3), pages 630-638, August.
    12. Yamazaki, Satoshi & Jennings, Sarah & Quentin Grafton, R. & Kompas, Tom, 2015. "Are marine reserves and harvest control rules substitutes or complements for rebuilding fisheries?," Resource and Energy Economics, Elsevier, vol. 40(C), pages 1-18.
    13. repec:eee:ecomod:v:364:y:2017:i:c:p:124-131 is not listed on IDEAS
    14. Diwakar Poudel & Leif K. Sandal & Sturla F. Kvamsdal, 2015. "Stochastically Induced Critical Depensation and Risk of Stock Collapse," Marine Resource Economics, University of Chicago Press, vol. 30(3), pages 297-313.
    15. Poudel, Diwakar & Sandal, Leif K. & Steinshamn, Stein I. & Kvamsdal, Sturla F., 2012. "Do Species Interactions and Stochasticity Matter to Optimal Management of Multispecies Fisheries?," Discussion Papers 2012/1, Norwegian School of Economics, Department of Business and Management Science.
    16. Al-Amin Ussif & Leif Sandal & Stein Steinshamn, 2005. "Assimilation of Time Series Data into a Dynamic Bioeconomic Fisheries Model: An Application to the North East Arctic Cod Stock," Journal of Bioeconomics, Springer, vol. 7(2), pages 179-195, January.

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