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Towards the Optimal Management of the Northeast Arctic Cod Fishery


  • Andries Richter

    (Wageningen University)

  • Paulo A.L.D. Nunes

    (Marine Economics Research Programme, The Mediterranean Science Commission – CIESM, Principauté de Monaco, and Department of Agriculture and Natural Resources Economics – TESAF, University of Padova)


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

  • Andries Richter & Paulo A.L.D. Nunes, 2011. "Towards the Optimal Management of the Northeast Arctic Cod Fishery," Working Papers 2011.40, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2011.40

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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


    Built Coastal Environment; Natural Coastal Environment; Ecosystem Service Valuation; Geographic Information Systems; Mapping Ecosystem Values; Marine Biodiversity; Scaling up; Spatial Analysis; Spatial Economic Valuation; Value Transfer;

    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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    1. Socio-economics of Fisheries and Aquaculture


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