Effectiveness of harvest strategies in achieving multiple management objectives in a multispecies fishery

Sean Pascoe, Trevor Hutton, Eriko Hoshino, Miriana Sporci, Satoshi Yamasaki and Tom Kompas

Australian Journal of Agricultural and Resource Economics, 2020, vol. 64, issue 3

Abstract: Fisheries management is characterised by multiple objectives, some of which may be complementary, while others may require trade‐offs between outcomes. Balancing these objectives is made more complex in the case of multispecies and multigear fisheries. In this paper, we develop a bioeconomic model that captures the key elements of such a fishery to test a range of potential harvest strategies to provide insights into how economic target reference points could lead to both desirable and undesirable management outcomes (e.g. discards). The model is developed as a long‐ run optimisation model to identify target reference points to achieve multispecies maximum economic yield, and a dynamic recursive optimisation model, which includes more realistic representation of fishers’ behaviour, such as discards and trading of under‐caught species quotas. The potential economic, social and ecological impacts are evaluated using data envelopment analysis (DEA). The results suggest that the use of proxy target reference points can result in short‐term economic benefits at the cost of slower stock recovery and higher discarding. Limiting the number of species subject to quota controls may also prove beneficial in multispecies fisheries, while ensuring quota markets are efficient is likely to produce benefits irrespective of the harvest strategy adopted.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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Journal Article: Effectiveness of harvest strategies in achieving multiple management objectives in a multispecies fishery (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:338500

DOI: 10.22004/ag.econ.338500

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