186 research outputs found
Endogenous fisheries management in a stochastic model: Why do fishery agencies use TAC
The aim of this paper is to explain under which circumstances using TACs as instrument to manage a fishery along with fishing periods may be interesting from a regulatory point of view. In order to do this, the deterministic analysis of Homans and Wilen (1997)and Anderson (2000) is extended to a stochastic scenario where the resource cannot be measured accurately. The resulting endogenous stochastic model is numerically solved for finding the optimal control rules in the Iberian sardine stock. Three relevant conclusions can be highligted from simulations. First, the higher the uncertainty about the state of the stock is, the lower the probability of closing the fishery is. Second, the use of TACs as management instrument in fisheries already regulated with fishing periods leads to: i) An increase of the optimal season length and harvests, especially for medium and high number of licences, ii) An improvement of the biological and economic variables when the size of the fleet is large; and iii) Eliminate the extinction risk for the resource. And third, the regulator would rather select the number of licences and do not restrict the season length.TAC, season lengths, fisheries management, stock uncertainty
Why Economists Reject Long-Term Fisheries Management Plans?
Most fisheries agencies conduct biological and economic assessments independently. This independent conduct may lead to situations in which economists reject management plans proposed by biologists. The objective of this study is to show how to find optimal strategies that may satisfy biologists and economists' conditions. In particular we characterize optimal fishing trajectories that maximize the present value of a discounted economic indicator taking into account the age-structure of the population as in stock assessment methodologies. This approach is applied to the Northern Stock of Hake. Our main empirical findings are: i) Optimal policy may be far away from any of the classical scenarios proposed by biologists, ii) The more the future is discounted, the higher the likelihood of finding contradictions among scenarios proposed by biologists and conclusions from economic analysis, iii) Optimal management reduces the risk of the stock falling under precautionary levels, especially if the future is not discounted to much, and iv) Optimal stationary fishing rate may be very different depending on the economic indicator used as reference.fisheries management, age-structured models, discounting, Fmsy, Fmax, northern stock of hake
Lessons from the northern hake long-term management plan: Could the economic assessment have accepted it?
An economic expert working group (STECF/SGBRE-07-05) was convened in 2007 for evaluating the potential economic consequences of a Long-Term Management Plan for the northern hake. Analyzing all the scenarios proposed by biological assessment, they found that keeping the F in the status quo level was the best policy in terms of net present values for both yield and profits. This result is counter intuitive because it may indicate that effort costs do no affect the economic reference points. However, it is well accepted that the inclusion of costs affects negatively the economic reference points. In this paper, applying a dynamic agestructured model to the northern hake, we show that the optimal fishing mortality that maximizes the net present value of profits is lower than Fmax.northern hake, economic assessment, age-structured models, fishery management optimization, net present value of profits
The Optimality of the Common Fisheries Policy: the Northern Stock of Hake
We evaluate the management of the Northern Stock of Hake during 1986-2001. A stochastic bioeconomic model is calibrated to match the main features of this fishing ground. We show how catches, biomass stock and profits would have been if the optimal Common Fisheries Policy (CFP) consistent with the target biomass implied by the Fischler’s Recovery Plan had been implemented. The main finding are: i) an optimal CFP would have generated profits of more than 667 millions euros, ii) if side-payments are allowed (implemented by ITQ’s, for example) these profits increase 26%.common fisheries policy, fishing regulation, fischler recovery plan
Pulse vs. Optimal Stationary Fishing: The Northern Stock of Hake
Pulse fishing may be a global optimal strategy in multicohort fisheries. In this article we compare the pulse fishing solutions obtained by using global numerical methods with the analytical stationary optimal solution. This allows us to quantify the potential benefits associated with the use of periodic fishing in the Northern Stock of hake. Results show that: first, management plans based exclusively on traditional reference targets as Fmsy may drive fishery economic results far from the optimal; second, global optimal solutions would imply, in a cyclical manner, the closure of the fishery for some periods and third, second best stationary policies with stable employment only reduce optimal present value of discounted profit in a 2%.optimal fisheries, management optimization in age-structured models, pulse fishing
Endogenous Fishing Mortalities: a State-Space Bioeconomic Model
A methodology that endogenously determines catchability functions that link fi shing mortality with
contemporaneous stock abundance is presented. We consider a stochastic age-structured model for
a fishery composed by a number of fi shing units (fleets, vessels or métiers) that optimally select
the level of fishing effort to be applied considering total mortalities as given. The introduction of
a balance constrain which guarantees that total mortality is equal to the sum of individual fi shing
mortalities optimally selected, enables total fishing mortality to be determined as a combination
of contemporaneous abundance and stochastic processes affecting the fishery. In this way, future
abundance can be projected as a dynamic system that depends on contemporaneous abundance.
The model is generic and can be applied to several issues of fisheries management. In particular, we
illustrate how to apply the methodology to assess the floating band target management regime for
controlling fishing mortalities which is inspired in the new multi-annual plans. Our results support
this management regime for the Mediterranean demersal fishery in Northern Spain.This work was funded by the European Commission as part of the MINOUW project (H2020-SFS-2014-2, number 634495) and the Spanish Ministry of Economy, Industry and Competitiveness (ECO2016-78819-R, AEI/FEDER, UE
The Evaluation of Fisheries Management: A Dynamic Stochastic Approach
In this article, we analyze how to evaluate fishery resource management under “ecological uncertainty”. In this context, an efficient policy consists of applying a different exploitation rule depending on the state of the resource and we could say that the stock is always in transition, jumping from one steady state to another. First, we propose a method for calibrating the growth path of the resource such that observed dynamics of resource and captures are matched. Second, we apply the calibration procedure proposed in two different fishing grounds: the European Anchovy (Division VIII) and the Southern Stock of Hake. Our results show that the role played by uncertainty is essential for the conclusions. For European Anchovy fishery (Division VIII) we find, in contrast with Del Valle et al. (2001), that this is not an overexploited fishing ground. However, we show that the Southern Stock of Hake is in a dangerous situation. In both cases our results are in accordance with ICES advice.We acknowledge financial support from the ERDF, Fundación BBVA, Ministerio de Ciencia y Tecnología and Universidad del País Vasco
Reference Points and Optimal Management in Stochastic Age-Structured Fisheries Models
The purpose of this article is to characterize dynamic optimal harvesting trajectories that maximize discounted utility assuming an age-structured population model, in the same line as Tahvonen (2009). The main novelty of our study is that uses as an age-structured population model the standard stochastic cohort framework applied in Virtual Population Analysis for fish stock assessment. This allows us to compare optimal harvesting in a discounted economic context with standard reference points used by fisheries agencies for long term management plans (e.g. Fmsy). Our main findings are the following. First, optimal steady state is characterized and sufficient conditions that guarantees its existence and uniqueness for the general case of n cohorts are shown. It is also proved that the optimal steady state coincides with the traditional target Fmsy when the utility function to be maximized is the yield and the discount rate is zero. Second, an algorithm to calculate the optimal path that easily drives the resource to the steady state is developed. And third, the algorithm is applied to the Northern Stock of hake. Results show that management plans based exclusively on traditional reference targets as Fmsy may drive fishery economic results far from the optimal.Financial aid from the Spanish Ministry of Education and Science (SEJ2006-12793/ECON, ECO2009-14697-C02-01) and the Basque Government (HM-2008-1-13) is gratefully acknowledged
Lessons from the northern hake long-term management plan: Could the economic assessment have accepted it?
An economic expert working group (STECF/SGBRE-07-05) was convened in 2007 for evaluating the potential economic consequences of a Long-Term Management Plan for the northern hake. Analyzing all the scenarios proposed by biological assessment, they found that keeping the F in the status quo level was the best policy in terms of net present values for both yield and profits. This result is counter intuitive because it may indicate that effort costs do no affect the economic reference points. However, it is well accepted that the inclusion of costs affects negatively the economic reference points. In this paper, applying a dynamic agestructured model to the northern hake, we show that the optimal fishing mortality that maximizes the net present value of profits is lower than Fmax.Financial aid from the Spanish Ministry of Education and Science (ECO2009-14697-C02-01 and 02) and the Basque Government (IT-241-07 and HM-2009-1-21) is gratefully acknowledged
Why Economists Reject Long-Term Fisheries Management Plans?
Most fisheries agencies conduct biological and economic assessments independently. This independent conduct may lead to situations in which economists reject management plans proposed by biologists. The objective of this study is to show how to find optimal strategies that may satisfy biologists and economists' conditions. In particular we characterize optimal fishing trajectories that maximize the present value of a discounted economic indicator taking into account the age-structure of the population as in stock assessment methodologies. This approach is applied to the Northern Stock of Hake. Our main empirical findings are: i) Optimal policy may be far away from any of the classical scenarios proposed by biologists, ii) The more the future is discounted, the higher the likelihood of finding contradictions among scenarios proposed by biologists and conclusions from economic analysis, iii) Optimal management reduces the risk of the stock falling under precautionary levels, especially if the future is not discounted to much, and iv) Optimal stationary fishing rate may be very different depending on the economic indicator used as reference.Financial aid from the Spanish Ministry of Education and Science (SEJ2006-12793/ECON), the Spanish Ministry of Science and Innovation (ECO2009-14697-C02-01 and 02) and the Basque Government (HM-2008-1-13) is gratefully acknowledged
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