Optimal Feedback Controls: Comparative Evaluation of the Cod Fisheries in Denmark, Iceland, and Norway

• Published in: American Journal of Agricultural Economics
• Main Authors: Arnason, Ragnar, Sandal, Leif K., Steinshamn, Stein Ivar, Vestergaard, Niels
• Format: Article in Journal/Newspaper
• Language: English
• Published: Wiley 2004
• Subjects: Norway; Tac; Iceland
• Online Access: http://dx.doi.org/10.1111/j.0092-5853.2004.00597.x; https://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fj.0092-5853.2004.00597.x; https://onlinelibrary.wiley.com/doi/pdf/10.1111/j.0092-5853.2004.00597.x; https://onlinelibrary.wiley.com/doi/full-xml/10.1111/j.0092-5853.2004.00597.x

The economic efficiencies of the Danish, Icelandic, and Norwegian cod fisheries are examined. For this purpose, nonlinear aggregate models of these fisheries are constructed. Comparing the calculated optimal harvest and biomass quantities with the actual fisheries provides a measure of the degree of...