Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery
In this paper we study how a stochastic model can be used to determine optimal levels of exploitation of the North-East Arctic Cod (NEAC, Gadus morhua). A noncritical depensation growth model is developed for this species in order to examine both deterministic and stochastic cases. Estimation of the...
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ftciteseerx:oai:CiteSeerX.psu:10.1.1.203.1458 2023-05-15T14:30:22+02:00 Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery K. Kugarajh Leif K. S Gerhard Berge The Pennsylvania State University CiteSeerX Archives 2004 application/pdf http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.203.1458 http://www.mi.uib.no/~gerhard/KK-LKS-GB.pdf en eng http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.203.1458 http://www.mi.uib.no/~gerhard/KK-LKS-GB.pdf Metadata may be used without restrictions as long as the oai identifier remains attached to it. http://www.mi.uib.no/~gerhard/KK-LKS-GB.pdf Key words North-East Arctic Cod Stochastic bio-economics model Optimal control text 2004 ftciteseerx 2016-01-07T17:31:12Z In this paper we study how a stochastic model can be used to determine optimal levels of exploitation of the North-East Arctic Cod (NEAC, Gadus morhua). A noncritical depensation growth model is developed for this species in order to examine both deterministic and stochastic cases. Estimation of the biological and the noise term parameters in the stochastic biomass dynamics is based on simulation and use of empirical NEAC data sets for the years 1985- 2001. The Kolmogorov-Smirnov criterion based method is used to estimate both drift and diffusion parameters simultaneously. The estimates turn out to be reasonable and the model is able to capture the salient features of the NEAC dynamics. The model is used to derive optimal levels of exploitation with different diffusion functions in the stochastic case and various discount rates in the deterministic case. Optimal catches are compared to the historical catch records. A striking feature of our modeling results is that these records fit surprisingly well to the infinite discounting tracks, i.e., the bliss solution. Our general results indicate that over fishing has resulted from lack of long term planning as well as inadequate response to uncertainty. Text Arctic cod Arctic Gadus morhua Unknown Arctic |
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English |
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Key words North-East Arctic Cod Stochastic bio-economics model Optimal control |
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Key words North-East Arctic Cod Stochastic bio-economics model Optimal control K. Kugarajh Leif K. S Gerhard Berge Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery |
topic_facet |
Key words North-East Arctic Cod Stochastic bio-economics model Optimal control |
description |
In this paper we study how a stochastic model can be used to determine optimal levels of exploitation of the North-East Arctic Cod (NEAC, Gadus morhua). A noncritical depensation growth model is developed for this species in order to examine both deterministic and stochastic cases. Estimation of the biological and the noise term parameters in the stochastic biomass dynamics is based on simulation and use of empirical NEAC data sets for the years 1985- 2001. The Kolmogorov-Smirnov criterion based method is used to estimate both drift and diffusion parameters simultaneously. The estimates turn out to be reasonable and the model is able to capture the salient features of the NEAC dynamics. The model is used to derive optimal levels of exploitation with different diffusion functions in the stochastic case and various discount rates in the deterministic case. Optimal catches are compared to the historical catch records. A striking feature of our modeling results is that these records fit surprisingly well to the infinite discounting tracks, i.e., the bliss solution. Our general results indicate that over fishing has resulted from lack of long term planning as well as inadequate response to uncertainty. |
author2 |
The Pennsylvania State University CiteSeerX Archives |
format |
Text |
author |
K. Kugarajh Leif K. S Gerhard Berge |
author_facet |
K. Kugarajh Leif K. S Gerhard Berge |
author_sort |
K. Kugarajh |
title |
Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery |
title_short |
Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery |
title_full |
Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery |
title_fullStr |
Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery |
title_full_unstemmed |
Implementing a Stochastic Bio-Economic Model for the North-East Arctic Cod Fishery |
title_sort |
implementing a stochastic bio-economic model for the north-east arctic cod fishery |
publishDate |
2004 |
url |
http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.203.1458 http://www.mi.uib.no/~gerhard/KK-LKS-GB.pdf |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic cod Arctic Gadus morhua |
genre_facet |
Arctic cod Arctic Gadus morhua |
op_source |
http://www.mi.uib.no/~gerhard/KK-LKS-GB.pdf |
op_relation |
http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.203.1458 http://www.mi.uib.no/~gerhard/KK-LKS-GB.pdf |
op_rights |
Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
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1766304215356932096 |