Irreversible Capital Investment in a Two-Stage Bimatrix Fishery Game Model

A two-stage, two-player noncooperative game model is developed(under an irreversible capital investment assumption) with the main aim of predicting the number of vessels that each player in such a game will find in his best interest to employ in the exploitation of the Arcto-Norwegian cod stock, given a noncooperative environment and the fact that all players are jointly constrained by the population dynamics of the resource. The predictions so obtained are then compared with (i) the sole owner's optimal capacity investments for the two players; (ii) the results in Sumaila (1994), where perfect malleability of capacity is assumed implicitly: and (iii) available data on the Acrto-Norwegian cod fishery.noncooperative, game, fisheries, irreversible, capital, trawl, coastal, Environmental Economics and Policy,

Marine Fisheries and the World Economy

People in coastal countries depend on healthy fisheries for their livelihoods. Gross revenue globally from marine fisheries has been estimated during the last decade at $80 billion to$85 billion annually. This estimate, however, reflects only the landed, or market, value of the fish as they first leave the boat, and it underestimates the full economic impact of fisheries. A more accurate accounting of the value of the fishing industry to the global economy would incorporate the indirect effects on related industries that depend on well-managed fisheries

NATURAL RESOURCE ACCOUNTING AND SOUTH AFRICAN FISHERIES: A BIO-ECONOMIC ASSESSMENT OF THE WEST COAST DEEP-SEA HAKE FISHERY WITH REFERENCE TO THE OPTIMAL UTILISATION AND MANAGEMENT OF THE RESOURCE

Resource /Energy Economics and Policy,

Topical Problems in Fishery Economics: An Introduction

Resource /Energy Economics and Policy,

A BIOECONOMIC ANALYSIS OF THE NORWEGIAN SPRING SPAWNING HERRING (NSSH) STOCK

A biological model belonging to the Beverton-Holt age-structured family for the Norwegian spring spawning herring (Clupea harengus) (NSSH) is simulated, the outcome of which compares well with actual data on the fishery. This model is then combined with an economic model to help investigate how optimal a management policy of constant fishing mortality will be for a fishery such as the NSSH, which has a highly fluctuating stock biomass. For the range of constant values of fishing mortality explored, and a simulation time horizon of 20 years, a constant fishing mortality of 0.15 turns out to be economically optimal. It should be noted that this result is sensitive to variations in the assumptions underlying key variables of the fishery. For example, when a constant rather than variable recruitment was assumed, a different optimal fishing mortality rate was obtained.bioeconomic model, herring optimal management, Resource /Energy Economics and Policy, Q57, Q22, Q28,

Overfishing Trends and the Global Food Crisis

Fish are a vital source of nourishment, especially to people in the world's poorest nations. Widespread over?shing has led to a decline in catch globally; however, the links between over?shing and food security have not been well-understood. The authors of scientific article "Food security implications of globalmarine catch losses due to overfishing." assessed potential losses, globally and regionally, in ?sheries catch and revenue resulting from over?shing. They found a third to a half of commercial marine species had been over?shed during the past half-century, with billions in potential revenue lost. By placing country-level catch loss trends in the context of undernourishment levels in many of the world's poorest countries, the authors estimated that in 2000 the additional catch from sustainable ?shing could have helped 20 million people cover their food de?cit and avert undernourishment. This Pew Ocean Science Series report is a summary of the scientists' ?ndings

Current and Potential Fish Asset Values Worldwide

The World Bank has constructed wealth accounts for nearly 15 years, most recently in The Changing Wealth of Nations. The accounts include produced capital, natural capital and human and social capital. Natural capital includes agricultural land, forests, subsoil assets and protected areas, but omit a number of critical natural capital stocks, one of which is fisheries. This omission reflects the lack of readily available data for fisheries accounts at the country level for most, if not all countries in the world. In general, fisheries and aquatic resources are poorly represented in most national environmental accounting efforts. In a recent review of natural capital accounting in The Changing Wealth of Nations, only a few countries, i.e., New Zealand, Iceland and Norway, construct monetary asset accounts for fisheries on a regular basis. We attempt to fill this gap in this contribution.Keywords: Measurement and Indicators for Improved Management and Understanding Part I, Fisheries Economics, Modeling & Economic Theor

Rent Maximization and the Wealth Based Approach

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Current Worldwide Contribution of Marine Fish to Human Welfare

Some attempts have been made in the past to provide estimates of the value of global fisheries. For example, catch values from marine fisheries have been reported by the FAO (2008) and Sumaila et al. (2007). The World Bank (2008) estimated that current economic rent from the worlds fisheries is negative $5 billion, and that if managed optimally, marine fisheries are capable of delivering economic rents of$50 billion a year. Here, we provide a more comprehensive estimate of the contribution of marine fish to human welfare, which is defined narrowly to mean the sum of worldwide (i) income to workers in the marine fishing sector; (ii) profits to fishing enterprises; and (iii) resource rent to citizens of the world, who, according to national and international laws and rules, are the owners of marine fish stocks. This definition means that our estimate of the contribution of marine fisheries to human welfare is conservative since it does not include all values. For example, the added value through the fish chain and non-market values are not counted. Still, our approach is a step forward towards determining more comprehensive estimates of the contribution of marine fisheries to human welfare. To carry out the objective of the paper, we relied on a diverse range of global fisheries databases created by the Sea Around Us (www.seaaroundus.org) and the Fisheries Economics Research Unit (www.feru.org). These include a global (i) catch database (Watson et al. 2005?); (ii) ex-vessel fish price database (Sumaila et al. 2007); (iii) subsidies database (Sumaila and Pauly, 2006); (iv) cost of fishing database (Lam et al., 2010); and (v) fisheries jobs database (Teh and Sumaila 2010).Keywords: Fisheries Economics, Fishery Management, Global Fisheries Contribution to National Economies: Management and Policy Options for RebuildingKeywords: Fisheries Economics, Fishery Management, Global Fisheries Contribution to National Economies: Management and Policy Options for Rebuildin

Fishing, not oil, is at the heart of the South China Sea dispute

Contrary to the view that the South China Sea disputes are driven by a regional hunger for seabed energy resources, the real and immediate prizes at stake are the region\u27s fisheries and marine environments that support them. It is also through the fisheries dimensions to the conflict that the repercussions of the recent ruling of the arbitration tribunal in the Philippines-China case are likely to be most acutely felt. It seems that oil is sexier than fish, or at least the lure of seabed energy resources has a more powerful motivating effect on policymakers, commentators and the media alike. However, the resources really at stake are the fisheries of the South China Sea and the marine environment that sustains them