Quantitative risk measures applied to Alaskan commercial fisheries
Risk measures can summarize the complex variability inherent in fisheries management into simple metrics. We use quantitative risk measures from investment theory to analyze catch and revenue risks for 90 commercial fisheries in Alaska, USA, nearly a complete census. We estimate the relationship bet...
Published in: | Canadian Journal of Fisheries and Aquatic Sciences |
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Online Access: | http://dx.doi.org/10.1139/f2011-170 http://www.nrcresearchpress.com/doi/full-xml/10.1139/f2011-170 http://www.nrcresearchpress.com/doi/pdf/10.1139/f2011-170 |
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crcansciencepubl:10.1139/f2011-170 2024-09-15T17:59:35+00:00 Quantitative risk measures applied to Alaskan commercial fisheries Sethi, Suresh Andrew Dalton, Michael Hilborn, Ray Rochet, Marie-Joelle 2012 http://dx.doi.org/10.1139/f2011-170 http://www.nrcresearchpress.com/doi/full-xml/10.1139/f2011-170 http://www.nrcresearchpress.com/doi/pdf/10.1139/f2011-170 en eng Canadian Science Publishing http://www.nrcresearchpress.com/page/about/CorporateTextAndDataMining Canadian Journal of Fisheries and Aquatic Sciences volume 69, issue 3, page 487-498 ISSN 0706-652X 1205-7533 journal-article 2012 crcansciencepubl https://doi.org/10.1139/f2011-170 2024-07-04T04:10:01Z Risk measures can summarize the complex variability inherent in fisheries management into simple metrics. We use quantitative risk measures from investment theory to analyze catch and revenue risks for 90 commercial fisheries in Alaska, USA, nearly a complete census. We estimate the relationship between fishery characteristics and catch risk using nonparametric random forest regression to identify attributes associated with high or low risks. Catch and revenue risks for individual Alaskan fisheries are substantial and are higher than risks for farmed food alternatives. Revenue risks are greater than catch risks for most fisheries, indicating that price variability is an additional source of risk to fishermen. Regression results indicate that higher productivity species tend to be higher risk, and there is an increasing gradient of risk moving north and west across Alaskan waters, with the remote western Bering Sea fisheries tending to have the highest risks. Low risk fisheries generally have large catches and support larger fleets. Finally, fisheries with greater catch history under some form of dedicated access privileges tend to have lower catch risks. Article in Journal/Newspaper Bering Sea Alaska Canadian Science Publishing Canadian Journal of Fisheries and Aquatic Sciences 69 3 487 498 |
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Canadian Science Publishing |
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crcansciencepubl |
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English |
description |
Risk measures can summarize the complex variability inherent in fisheries management into simple metrics. We use quantitative risk measures from investment theory to analyze catch and revenue risks for 90 commercial fisheries in Alaska, USA, nearly a complete census. We estimate the relationship between fishery characteristics and catch risk using nonparametric random forest regression to identify attributes associated with high or low risks. Catch and revenue risks for individual Alaskan fisheries are substantial and are higher than risks for farmed food alternatives. Revenue risks are greater than catch risks for most fisheries, indicating that price variability is an additional source of risk to fishermen. Regression results indicate that higher productivity species tend to be higher risk, and there is an increasing gradient of risk moving north and west across Alaskan waters, with the remote western Bering Sea fisheries tending to have the highest risks. Low risk fisheries generally have large catches and support larger fleets. Finally, fisheries with greater catch history under some form of dedicated access privileges tend to have lower catch risks. |
author2 |
Rochet, Marie-Joelle |
format |
Article in Journal/Newspaper |
author |
Sethi, Suresh Andrew Dalton, Michael Hilborn, Ray |
spellingShingle |
Sethi, Suresh Andrew Dalton, Michael Hilborn, Ray Quantitative risk measures applied to Alaskan commercial fisheries |
author_facet |
Sethi, Suresh Andrew Dalton, Michael Hilborn, Ray |
author_sort |
Sethi, Suresh Andrew |
title |
Quantitative risk measures applied to Alaskan commercial fisheries |
title_short |
Quantitative risk measures applied to Alaskan commercial fisheries |
title_full |
Quantitative risk measures applied to Alaskan commercial fisheries |
title_fullStr |
Quantitative risk measures applied to Alaskan commercial fisheries |
title_full_unstemmed |
Quantitative risk measures applied to Alaskan commercial fisheries |
title_sort |
quantitative risk measures applied to alaskan commercial fisheries |
publisher |
Canadian Science Publishing |
publishDate |
2012 |
url |
http://dx.doi.org/10.1139/f2011-170 http://www.nrcresearchpress.com/doi/full-xml/10.1139/f2011-170 http://www.nrcresearchpress.com/doi/pdf/10.1139/f2011-170 |
genre |
Bering Sea Alaska |
genre_facet |
Bering Sea Alaska |
op_source |
Canadian Journal of Fisheries and Aquatic Sciences volume 69, issue 3, page 487-498 ISSN 0706-652X 1205-7533 |
op_rights |
http://www.nrcresearchpress.com/page/about/CorporateTextAndDataMining |
op_doi |
https://doi.org/10.1139/f2011-170 |
container_title |
Canadian Journal of Fisheries and Aquatic Sciences |
container_volume |
69 |
container_issue |
3 |
container_start_page |
487 |
op_container_end_page |
498 |
_version_ |
1810436695851532288 |