Are marine reserves and harvest control rules substitutes or complements for rebuilding fisheries?
Satoshi Yamazaki (),
R. Quentin Grafton () and
Tom Kompas ()
Resource and Energy Economics, 2015, vol. 40, issue C, 1-18
Harvest control rules and no-take marine reserves are two management approaches increasingly advocated as effective means of rebuilding depleted fish stocks and averting the collapse of fisheries. We incorporate the two approaches into a bioeconomic model and evaluate how they act as substitutes and/or complements when used together in fisheries stock recovery plans. Simulations of the model with estimated parameters from an actual fishery show that the cost of adopting a harvest strategy of slow stock rebuilding can be offset or substituted by a no-take reserve. For each of the harvest strategies explored, we find there is a range of reserve sizes that can act as a complement in a stock recovery plan such that a no-take reserve improves both the profitability of fishers and average annual harvest during stock rebuilding. We demonstrate that a stock recovery plan that incorporates both harvest control rules and no-take reserves can simultaneously contribute to conservation, economic and socio-economic objectives of fisheries management.
Keywords: Fisheries management; Harvest control rules; Marine reserves; Stock recovery plans (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:resene:v:40:y:2015:i:c:p:1-18
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