Restoring a Fish Stock: A Dynamic Bankruptcy Problem

• Main Authors: Elena Inarra, Anders Skonhoft
• Other Authors: The Pennsylvania State University CiteSeerX Archives
• Format: Text
• Language: English
• Subjects: Key Words; Fishery management; bankruptcy problem; harvesting rules; Tac; North East Atlantic
• Online Access: http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.524.3374; http://www.iamz.ciheam.org/GTP2006/FinalpapersGTP2006/18final.pdf

Total Allowable Catch (TAC) regulating schemes have been introduced in most fisheries. TAC distribution following the Proportional rule, based on historical catches, implies that harvesters, or vessel groups, who have captured more in the past and contributed to overfishing are getting greater quotas than groups that have contributed less to overfishing. In contrast to this rule a more egalitarian rule, the Constrained Equal Award rule, is proposed to distribute the TAC. Contingent upon the fishing techniques used by the harvesters, it is shown that this egalitarian rule may shorten the recovery period of fish stock and increase the profitability of fisheries subject to TAC regulation. Simulations with data from the North East Atlantic Norwegian cod fishery illustrate it.