Assessment and Management of Small Yellow Croaker ( Larimichthys polyactis ) Stocks in South Korea

Min-Je Choi and Do-Hoon Kim
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Min-Je Choi: Department of Marine & Fisheries Business and Economics, Pukyong National University, Busan 48513, Korea
Do-Hoon Kim: Department of Marine & Fisheries Business and Economics, Pukyong National University, Busan 48513, Korea

Sustainability, 2020, vol. 12, issue 19, 1-17

Abstract: We aimed to determine the appropriate annual total allowable catch (TAC) levels for the small yellow croaker ( Larimichthys polyactis ). A Bayesian state-space model was used to assess the species stock. This model has been widely used after research confirmed its reliability over other models. However, setting prior distributions for analyzing this model remains controversial. Therefore, a sensitivity analysis was conducted using the model with different prior distributions and biomass growth functions. Informative and non-informative prior distributions were compared using Schaefer and Fox growth functions. Considering the results of the sensitivity analysis, the assumption of inverse-gamma prior distribution of K , a non-informative distribution, with the Fox function could yield relatively superior estimates than those obtained from other assumptions. Moreover, changing the growth function could have a greater effect on the fitness of the model estimates than changing prior distribution. Therefore, future fishery stock analyses based on this model should consider the effectiveness of various growth functions in addition to the sensitivity analysis for prior distributions. Furthermore, the biomass of small yellow croaker will decrease if the catch increases by 10%. Therefore, the annual TAC levels should be set below the maximum sustainable yield (21,301 tons) for effective small yellow croaker stock management.

Keywords: Bayesian state-space model; stock assessment; prior specification; total allowable catch (TAC); maximum sustainable yield (MSY) (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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