A MODEL OF BYCATCH INVOLVING A PASSIVE USE STOCK

Abstract

We develop a simple extension of the theory of multispecies fisheries management to analyze a problem where one fish or animal stock has no commercial market but instead is valued passively. We interpret a typical by bycatch problem as a standard multispecies fisheries management problem, and we develop a multispecies model incorporating both monetary damages associated with bycatch and variable biological relationships. We examine the behavior of the model with a numerical example focusing on the case of the bycatch of spotted and other dolphins in the eastern tropical Pacific (ETP) yellowfin tuna fishery.Resource /Energy Economics and Policy,