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Towards the Optimal Management of the Northeast Arctic Cod Fishery

Author

Listed:
  • Richter, Andries
  • Eikeset, Anne Maria
  • Stenseth, Nils Chr.
  • van Soest, Daan P.

Abstract

The objectives pursued by governments managing fisheries may include maximizing profits, minimizing the impact on the marine ecosystem, or securing employment, which all require adjusting the composition of the fishing fleet. We develop a management plan that can be adapted to those objectives and allows the regulator to compare the long-run profits between the various management options. We apply the model to the case of Northeast Arctic cod, and estimate the cost and harvesting functions of various vessel types, the demand function, and a biological model to provide key insights regarding the optimal management of this valuable fish species.

Suggested Citation

  • Richter, Andries & Eikeset, Anne Maria & Stenseth, Nils Chr. & van Soest, Daan P., 2011. "Towards the Optimal Management of the Northeast Arctic Cod Fishery," Climate Change and Sustainable Development 108249, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemcl:108249
    DOI: 10.22004/ag.econ.108249
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    Cited by:

    1. 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.
    2. Gars, Johan & Spiro, Daniel, 2014. "Uninsurance through Trade," Memorandum 13/2014, Oslo University, Department of Economics.

    More about this item

    Keywords

    Environmental Economics and Policy;

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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