Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery
The fishery for Patagonian toothfish around the island of South Georgia in the Southern Ocean is a profitable operation targeting a high-value, slow-growing species. We substituted the complex Bayesian age-structured model currently used for assessments with a Schaefer production model, which perfor...
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University of Rhode Island
2010
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ftunivtasecite:oai:ecite.utas.edu.au:68051 2023-05-15T17:54:42+02:00 Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery Hoshino, E Hillary, R Pearce, J 2010 application/pdf http://mre.cels.uri.edu/ https://doi.org/10.5950/0738-1360-25.3.265 http://ecite.utas.edu.au/68051 en eng University of Rhode Island http://ecite.utas.edu.au/68051/1/Hoshino et al 2010.pdf http://dx.doi.org/10.5950/0738-1360-25.3.265 Hoshino, E and Hillary, R and Pearce, J, Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery, Marine Resource Economics, 25, (3) pp. 265-280. ISSN 0738-1360 (2010) [Refereed Article] http://ecite.utas.edu.au/68051 Economics Applied Economics Environment and Resource Economics Refereed Article PeerReviewed 2010 ftunivtasecite https://doi.org/10.5950/0738-1360-25.3.265 2019-12-13T21:36:33Z The fishery for Patagonian toothfish around the island of South Georgia in the Southern Ocean is a profitable operation targeting a high-value, slow-growing species. We substituted the complex Bayesian age-structured model currently used for assessments with a Schaefer production model, which performs equally well as an operating model for management strategy evaluation. Our analysis demonstrated that optimum long-term profitability using a discount rate of 2% would be achieved at a biomass of 59% of initial biomass, which is higher than the target biomass of 50% incorporated into the current management strategy, and at a reduction in effort of approximately 19%. A number of potential effort reduction strategies are investigated, several of which would achieve belter conservation objectives and higher future profits from the fishery than those predicted using the current management strategy. Copyright 2010 MRE Foundation, Inc. Article in Journal/Newspaper Patagonian Toothfish Southern Ocean eCite UTAS (University of Tasmania) Schaefer ENVELOPE(166.383,166.383,-71.367,-71.367) Southern Ocean Marine Resource Economics 25 3 265 280 |
institution |
Open Polar |
collection |
eCite UTAS (University of Tasmania) |
op_collection_id |
ftunivtasecite |
language |
English |
topic |
Economics Applied Economics Environment and Resource Economics |
spellingShingle |
Economics Applied Economics Environment and Resource Economics Hoshino, E Hillary, R Pearce, J Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
topic_facet |
Economics Applied Economics Environment and Resource Economics |
description |
The fishery for Patagonian toothfish around the island of South Georgia in the Southern Ocean is a profitable operation targeting a high-value, slow-growing species. We substituted the complex Bayesian age-structured model currently used for assessments with a Schaefer production model, which performs equally well as an operating model for management strategy evaluation. Our analysis demonstrated that optimum long-term profitability using a discount rate of 2% would be achieved at a biomass of 59% of initial biomass, which is higher than the target biomass of 50% incorporated into the current management strategy, and at a reduction in effort of approximately 19%. A number of potential effort reduction strategies are investigated, several of which would achieve belter conservation objectives and higher future profits from the fishery than those predicted using the current management strategy. Copyright 2010 MRE Foundation, Inc. |
format |
Article in Journal/Newspaper |
author |
Hoshino, E Hillary, R Pearce, J |
author_facet |
Hoshino, E Hillary, R Pearce, J |
author_sort |
Hoshino, E |
title |
Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
title_short |
Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
title_full |
Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
title_fullStr |
Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
title_full_unstemmed |
Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
title_sort |
economically optimal management strategies for the south georgia patagonian toothfish fishery |
publisher |
University of Rhode Island |
publishDate |
2010 |
url |
http://mre.cels.uri.edu/ https://doi.org/10.5950/0738-1360-25.3.265 http://ecite.utas.edu.au/68051 |
long_lat |
ENVELOPE(166.383,166.383,-71.367,-71.367) |
geographic |
Schaefer Southern Ocean |
geographic_facet |
Schaefer Southern Ocean |
genre |
Patagonian Toothfish Southern Ocean |
genre_facet |
Patagonian Toothfish Southern Ocean |
op_relation |
http://ecite.utas.edu.au/68051/1/Hoshino et al 2010.pdf http://dx.doi.org/10.5950/0738-1360-25.3.265 Hoshino, E and Hillary, R and Pearce, J, Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery, Marine Resource Economics, 25, (3) pp. 265-280. ISSN 0738-1360 (2010) [Refereed Article] http://ecite.utas.edu.au/68051 |
op_doi |
https://doi.org/10.5950/0738-1360-25.3.265 |
container_title |
Marine Resource Economics |
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25 |
container_issue |
3 |
container_start_page |
265 |
op_container_end_page |
280 |
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1766162514759909376 |