Estimating the economic loss of recent North Atlantic fisheries management
It is accepted that world’s fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are expl...
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Online Access: | https://doi.org/10.1016/j.pocean.2014.04.022 https://archimer.ifremer.fr/doc/00188/29973/28426.pdf https://archimer.ifremer.fr/doc/00188/29973/ |
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fttriple:oai:gotriple.eu:10670/1.w8u30c 2023-05-15T17:27:49+02:00 Estimating the economic loss of recent North Atlantic fisheries management Merino, Gorka Barange, Manuel Fernandes, Jose A. Mullon, Christian Cheung, William Trenkel, Verena Lam, Vicky https://doi.org/10.1016/j.pocean.2014.04.022 https://archimer.ifremer.fr/doc/00188/29973/28426.pdf https://archimer.ifremer.fr/doc/00188/29973/ en eng Pergamon-elsevier Science Ltd doi:10.1016/j.pocean.2014.04.022 10670/1.w8u30c https://archimer.ifremer.fr/doc/00188/29973/28426.pdf https://archimer.ifremer.fr/doc/00188/29973/ other Archimer, archive institutionnelle de l'Ifremer Progress In Oceanography (0079-6611) (Pergamon-elsevier Science Ltd), 2014-12 , Vol. 129 , P. 314-323 envir eco Text https://vocabularies.coar-repositories.org/resource_types/c_18cf/ fttriple https://doi.org/10.1016/j.pocean.2014.04.022 2023-01-22T18:31:12Z It is accepted that world’s fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are exploited. The latter is important as fisheries contribute considerably to the economic development of many coastal communities. Here we estimate the overall potential economic rent for the fishing industry in the North Atlantic to be B€ 12.85, compared to current estimated profits of B€ 0.63. The difference between the potential and the net profits obtained from North Atlantic fisheries is therefore B€ 12.22. In order to increase the profits of North Atlantic fisheries to a maximum, total fish biomass would have to be rebuilt to 108 Mt (2.4 times more than present) by reducing current total fishing effort by 53%. Stochastic simulations were undertaken to estimate the uncertainty associated with the aggregate bioeconomic model that we use and we estimate the economic loss NA fisheries in a range of 2.5 and 32 billion of euro. We provide economic justification for maintaining or restoring fish stocks to above their MSY biomass levels. Our conclusions are consistent with similar global scale studies. Text North Atlantic Unknown Progress in Oceanography 129 314 323 |
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envir eco Merino, Gorka Barange, Manuel Fernandes, Jose A. Mullon, Christian Cheung, William Trenkel, Verena Lam, Vicky Estimating the economic loss of recent North Atlantic fisheries management |
topic_facet |
envir eco |
description |
It is accepted that world’s fisheries are not generally exploited at their biological or their economic optimum. Most fisheries assessments focus on the biological capacity of fish stocks to respond to harvesting and few have attempted to estimate the economic efficiency at which ecosystems are exploited. The latter is important as fisheries contribute considerably to the economic development of many coastal communities. Here we estimate the overall potential economic rent for the fishing industry in the North Atlantic to be B€ 12.85, compared to current estimated profits of B€ 0.63. The difference between the potential and the net profits obtained from North Atlantic fisheries is therefore B€ 12.22. In order to increase the profits of North Atlantic fisheries to a maximum, total fish biomass would have to be rebuilt to 108 Mt (2.4 times more than present) by reducing current total fishing effort by 53%. Stochastic simulations were undertaken to estimate the uncertainty associated with the aggregate bioeconomic model that we use and we estimate the economic loss NA fisheries in a range of 2.5 and 32 billion of euro. We provide economic justification for maintaining or restoring fish stocks to above their MSY biomass levels. Our conclusions are consistent with similar global scale studies. |
format |
Text |
author |
Merino, Gorka Barange, Manuel Fernandes, Jose A. Mullon, Christian Cheung, William Trenkel, Verena Lam, Vicky |
author_facet |
Merino, Gorka Barange, Manuel Fernandes, Jose A. Mullon, Christian Cheung, William Trenkel, Verena Lam, Vicky |
author_sort |
Merino, Gorka |
title |
Estimating the economic loss of recent North Atlantic fisheries management |
title_short |
Estimating the economic loss of recent North Atlantic fisheries management |
title_full |
Estimating the economic loss of recent North Atlantic fisheries management |
title_fullStr |
Estimating the economic loss of recent North Atlantic fisheries management |
title_full_unstemmed |
Estimating the economic loss of recent North Atlantic fisheries management |
title_sort |
estimating the economic loss of recent north atlantic fisheries management |
publisher |
Pergamon-elsevier Science Ltd |
url |
https://doi.org/10.1016/j.pocean.2014.04.022 https://archimer.ifremer.fr/doc/00188/29973/28426.pdf https://archimer.ifremer.fr/doc/00188/29973/ |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_source |
Archimer, archive institutionnelle de l'Ifremer Progress In Oceanography (0079-6611) (Pergamon-elsevier Science Ltd), 2014-12 , Vol. 129 , P. 314-323 |
op_relation |
doi:10.1016/j.pocean.2014.04.022 10670/1.w8u30c https://archimer.ifremer.fr/doc/00188/29973/28426.pdf https://archimer.ifremer.fr/doc/00188/29973/ |
op_rights |
other |
op_doi |
https://doi.org/10.1016/j.pocean.2014.04.022 |
container_title |
Progress in Oceanography |
container_volume |
129 |
container_start_page |
314 |
op_container_end_page |
323 |
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1766120126296358912 |