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Volume 25, Number 3, 2010 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/108210
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| Title: | Economically Optimal Management Strategies for the South Georgia Patagonian Toothfish Fishery |
| Authors: | Hoshino, Eriko
Hillary, Richard M.
Pearce, John |
| Authors (Email): | Hoshino, Eriko (e.hoshino06@imperial.ac.uk)
Hillary, Richard M. (Rich.Hillary@csiro.au)
Pearce, John (j.pearce@mrag.co.uk) |
| Keywords: | Management strategy evaluation
bioeconomic modelling
uncertainty
Patagonian toothfish |
| JEL Codes: | Q22
Q28 |
| Issue Date: | 2010-09 |
| Series/Report no.: | Marine Resource Economics
Vol. 25 No. 3 |
| Abstract: | 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 better conservation objectives and higher future profits from the fishery than those predicted using the current management strategy. |
| URI: | http://purl.umn.edu/108210 |
| Identifiers: | ISSN: 0738-1360 |
| Institution/Association: | Marine Resource Economics>Volume 25, Number 3, 2010 |
| Total Pages: | 16 |
| From Page: | 265 |
| To Page: | 280 |
| Collections: | Volume 25, Number 3, 2010
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| 04-Hillary.pdf | | 756Kb | PDF | View/Open |
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