Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery
Many real world fisheries have an individual vessel quota system with restrictions on transferability of quota or entrance of new vessels into the fishery. While the standard economic reasoning is that these institutional constraints lead to welfare losses, the size of those losses and optimal secon...
Published in: | Environmental and Resource Economics |
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2018
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ftunivaugsburg:oai:uni-augsburg.opus-bayern.de:103923 2023-06-11T04:07:58+02:00 Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery Richter, Andries Eikeset, Anne Maria van Soest, Daan Diekert, Florian Klaus Stenseth, Nils Chr. 2018 application/pdf https://opus.bibliothek.uni-augsburg.de/opus4/frontdoor/index/index/docId/103923 https://nbn-resolving.org/urn:nbn:de:bvb:384-opus4-1039231 https://doi.org/10.1007/s10640-016-0106-3 https://opus.bibliothek.uni-augsburg.de/opus4/files/103923/103923.pdf eng eng https://opus.bibliothek.uni-augsburg.de/opus4/frontdoor/index/index/docId/103923 urn:nbn:de:bvb:384-opus4-1039231 https://nbn-resolving.org/urn:nbn:de:bvb:384-opus4-1039231 https://doi.org/10.1007/s10640-016-0106-3 https://opus.bibliothek.uni-augsburg.de/opus4/files/103923/103923.pdf https://creativecommons.org/licenses/by/4.0/deed.de CC-BY 4.0: Creative Commons: Namensnennung (mit Print on Demand) info:eu-repo/semantics/openAccess ddc:630 article doc-type:article 2018 ftunivaugsburg https://doi.org/10.1007/s10640-016-0106-3 2023-04-23T22:31:02Z Many real world fisheries have an individual vessel quota system with restrictions on transferability of quota or entrance of new vessels into the fishery. While the standard economic reasoning is that these institutional constraints lead to welfare losses, the size of those losses and optimal second-best policies are usually unknown. We develop a dynamic bioeconomic model, in which a scientific body provides an optimal TAC given restrictions on (i) transferability between vessel segments and (ii) entrance of new vessels. Further, we also quantify welfare losses arising from not maximizing economic welfare, but physical yield—which is actually the case in many fisheries. We apply the model to the Northeast Arctic cod fishery, and estimate not only the cost and harvesting functions of the various vessel types, but also the parameters of the biological model as well as those of the demand function. This allows us to determine optimal second-best policies and quantify corresponding welfare effects for our case study fishery. Article in Journal/Newspaper Arctic cod Arctic Northeast Arctic cod Augsburg University Publication Server (OPUS) Arctic Tac ENVELOPE(-59.517,-59.517,-62.500,-62.500) Environmental and Resource Economics 69 4 811 835 |
institution |
Open Polar |
collection |
Augsburg University Publication Server (OPUS) |
op_collection_id |
ftunivaugsburg |
language |
English |
topic |
ddc:630 |
spellingShingle |
ddc:630 Richter, Andries Eikeset, Anne Maria van Soest, Daan Diekert, Florian Klaus Stenseth, Nils Chr. Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery |
topic_facet |
ddc:630 |
description |
Many real world fisheries have an individual vessel quota system with restrictions on transferability of quota or entrance of new vessels into the fishery. While the standard economic reasoning is that these institutional constraints lead to welfare losses, the size of those losses and optimal second-best policies are usually unknown. We develop a dynamic bioeconomic model, in which a scientific body provides an optimal TAC given restrictions on (i) transferability between vessel segments and (ii) entrance of new vessels. Further, we also quantify welfare losses arising from not maximizing economic welfare, but physical yield—which is actually the case in many fisheries. We apply the model to the Northeast Arctic cod fishery, and estimate not only the cost and harvesting functions of the various vessel types, but also the parameters of the biological model as well as those of the demand function. This allows us to determine optimal second-best policies and quantify corresponding welfare effects for our case study fishery. |
format |
Article in Journal/Newspaper |
author |
Richter, Andries Eikeset, Anne Maria van Soest, Daan Diekert, Florian Klaus Stenseth, Nils Chr. |
author_facet |
Richter, Andries Eikeset, Anne Maria van Soest, Daan Diekert, Florian Klaus Stenseth, Nils Chr. |
author_sort |
Richter, Andries |
title |
Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery |
title_short |
Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery |
title_full |
Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery |
title_fullStr |
Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery |
title_full_unstemmed |
Optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the Northeast Arctic cod fishery |
title_sort |
optimal management under institutional constraints: determining a total allowable catch for different fleet segments in the northeast arctic cod fishery |
publishDate |
2018 |
url |
https://opus.bibliothek.uni-augsburg.de/opus4/frontdoor/index/index/docId/103923 https://nbn-resolving.org/urn:nbn:de:bvb:384-opus4-1039231 https://doi.org/10.1007/s10640-016-0106-3 https://opus.bibliothek.uni-augsburg.de/opus4/files/103923/103923.pdf |
long_lat |
ENVELOPE(-59.517,-59.517,-62.500,-62.500) |
geographic |
Arctic Tac |
geographic_facet |
Arctic Tac |
genre |
Arctic cod Arctic Northeast Arctic cod |
genre_facet |
Arctic cod Arctic Northeast Arctic cod |
op_relation |
https://opus.bibliothek.uni-augsburg.de/opus4/frontdoor/index/index/docId/103923 urn:nbn:de:bvb:384-opus4-1039231 https://nbn-resolving.org/urn:nbn:de:bvb:384-opus4-1039231 https://doi.org/10.1007/s10640-016-0106-3 https://opus.bibliothek.uni-augsburg.de/opus4/files/103923/103923.pdf |
op_rights |
https://creativecommons.org/licenses/by/4.0/deed.de CC-BY 4.0: Creative Commons: Namensnennung (mit Print on Demand) info:eu-repo/semantics/openAccess |
op_doi |
https://doi.org/10.1007/s10640-016-0106-3 |
container_title |
Environmental and Resource Economics |
container_volume |
69 |
container_issue |
4 |
container_start_page |
811 |
op_container_end_page |
835 |
_version_ |
1768381069091930112 |