Economic Benefits of Multi-Species Management
Optimal management of herring, mackerel, and blue whiting in the North East Atlantic is analyzed. The main motivation is to quantify the potential gain from implementing multi-species management compared to traditional single-species management. The objective is to maximize discounted net revenue; i...
| Main Authors: | , |
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| Format: | Conference Object |
| Language: | English unknown |
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| Online Access: | https://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/9306t1230 |
| Summary: | Optimal management of herring, mackerel, and blue whiting in the North East Atlantic is analyzed. The main motivation is to quantify the potential gain from implementing multi-species management compared to traditional single-species management. The objective is to maximize discounted net revenue; in other words a sole-owner perspective. The results are derived from an empirically based surplus growth type of model with three species. The biological interaction in the model is mainly competition for food. One result is that discounted net revenue could have been around 25% higher if the stocks had been optimally managed from a multi-species perspective. Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, held July 11-15, 2016 at Aberdeen Exhibition and Conference Center (AECC), Aberdeen, Scotland, UK. |
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