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Trophic Portfolios In Marine Fisheries: A Step Towards Ecosystem Management

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Listed author(s):
  • Sanchirico, James N.
  • Smith, Martin D.

Abstract

Marine ecologists warn that humans are "fishing down marine food webs." To explore the economic implications of this phenomenon, this paper applies portfolio theory to aggregate fisheries data. It poses two definitions of a sustainable mean-variance catch frontier. It computes a mean-variance frontier for catch using UNFAO historical fisheries data. Finally, the paper discusses the historical trend in inefficiency.

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File URL: http://purl.umn.edu/22191
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number 22191.

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Date of creation: 2003
Handle: RePEc:ags:aaea03:22191
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Keywords: Environmental Economics and Policy; Resource /Energy Economics and Policy;

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  1. Andrea Beltratti & Graciela Chichilnisky & Geoffrey Heal, 1993. "Sustainable Growth and the Green Golden Rule," NBER Working Papers 4430, National Bureau of Economic Research, Inc.
  2. Baldursson, Fridrik Mar & Magnusson, Gudmundar, 1997. " Portfolio Fishing," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(3), pages 389-403, September.
  3. Steven C. Blank, 2001. "Producers get Squeezed up the Farming Food Chain: A Theory of Crop Portfolio Composition and Land Use," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 23(2), pages 404-422.
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Cited by:

  1. Sanchirico, James N. & Smith, Martin D. & Lipton, Douglas W., 2006. "An Approach to Ecosystem-Based Fishery Management," Discussion Papers dp-06-40, Resources For the Future.
  2. Sanchirico, James N. & Smith, Martin D. & Lipton, Douglas W., 2008. "An empirical approach to ecosystem-based fishery management," Ecological Economics, Elsevier, vol. 64(3), pages 586-596, January.

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