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Reference Points Based on Dynamic Optimisation: A Versatil Algorithm for Mixed Fishery Management with Bio-economic Agestructured Models


  • Da Rocha, José María
  • Gutiérrez Huerta, María José
  • Cerviño, Santiago


Single-species management objectives may not be consistent within mixed fisheries. They may lead species to unsafe situations, promote discarding of over-quota and/or misreporting of catches. We provide an algorithm for characterising bio-economic reference points for a mixed fishery as the steady-state solution of a dynamic optimal management problem. The optimisation problem takes into account: i) that species are fishing simultaneously in unselective fishing operations and ii)intertemporal discounting and fleet costs to relate reference points to discounted economic profits along optimal trajectories. We illustrate how the algorithm can be implemented by applying it to the European Northern Stock of Hake (Merluccius merluccius), where fleets also capture Northern megrim (Lepidorhombus whiffiagonis) and Northern anglerfish (Lophius piscatorius and Lophius budegassa). We find that optimal mixed management leads to a target reference point that is quite similar to the 2/3 of the Fmsy single-species (hake) target. Mixed management is superior to singlespecies management because it leads the fishery to higher discounted profits with higher long-term SSB for all species. We calculate that the losses due to the use of the Fmsy single-species (hake) target in this mixed fishery account for 11.4% of total discounted profits.

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  • Da Rocha, José María & Gutiérrez Huerta, María José & Cerviño, Santiago, 2012. "Reference Points Based on Dynamic Optimisation: A Versatil Algorithm for Mixed Fishery Management with Bio-economic Agestructured Models," DFAEII Working Papers 2012-02, University of the Basque Country - Department of Foundations of Economic Analysis II.
  • Handle: RePEc:ehu:dfaeii:8769

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    1. Grafton, R. Quentin & Kompas, Tom & Chu, Long & Che, Nhu, 2010. "Maximum economic yield," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), September.
    2. Rognvaldur Hannesson, 1975. "Fishery Dynamics: A North Atlantic Cod Fishery," Canadian Journal of Economics, Canadian Economics Association, vol. 8(2), pages 151-173, May.
    3. 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," Ecological Economics, Elsevier, vol. 64(4), pages 716-728, February.
    4. Hannesson, Rognvaldur, 2007. "Growth accounting in a fishery," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 364-376, May.
    5. Tahvonen, Olli, 2009. "Economics of harvesting age-structured fish populations," Journal of Environmental Economics and Management, Elsevier, vol. 58(3), pages 281-299, November.
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    Cited by:

    1. Villasante, Sebastian & Pierce, Graham J. & Pita, Cristina & Guimeráns, César Pazos & Garcia Rodrigues, João & Antelo, Manel & Da Rocha, José María & Cutrín, Javier García & Hastie, Lee C. & Veiga, Pe, 2016. "Fishers' perceptions about the EU discards policy and its economic impact on small-scale fisheries in Galicia (North West Spain)," Ecological Economics, Elsevier, vol. 130(C), pages 130-138.
    2. José-María Da-Rocha & Rosa Mato-Amboage, 2016. "On the Benefits of Including Age-Structure in Harvest Control Rules," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 619-641, August.
    3. Da Rocha, José María & García-Cutrín, Javier & Gutiérrez Huerta, María José & Touza, Julia, 2015. "Reconciling yield stability with international fisheries agencies precautionary preferences: the role of non constant discount factors in age structured models," DFAEII Working Papers DFAEII;2015-02, University of the Basque Country - Department of Foundations of Economic Analysis II.

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    optimisation in age-structured models; bio-economic reference points; mixed fisheries;

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