Uncertain Biomass Shift and Collapse: Implications for Harvest Policy in the Fishery

Robert Johnston and Jon G. Sutinen
Authors registered in the RePEc Author Service: James Johnston

Land Economics, 1996, vol. 72, issue 4, 500-518

Abstract: This paper addresses uncertain biomass shifts in renewable resources. A biomass shift occurs when a dominant renewable resource stock collapses and its ecosystem niche is filled by a replacement species which increases in abundance after the initial collapse. This paper develops a bioeconomic model for a fishery subject to random biomass shift. Optimal policy for three causes of biomass shift-environmental perturbation, overfishing, and a combination of these two factors-is derived and compared to optimal policy when the risk of biomass shift is not present. For each cause of biomass shift, the model allows for a valued and non-valued replacement species.

Date: 1996
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:72:y:1996:i:4:p:500-518

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