TROPHIC PORTFOLIOS IN MARINE FISHERIES: A STEP TOWARDS ECOSYSTEM MANAGEMENT

James Sanchirico () and Martin Smith ()

No 22191, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Marine ecologists warn that humans are "fishing down marine food webs." To explore the economic implications of this phenomenon, this paper applies portfolio theory to aggregate fisheries data. It poses two definitions of a sustainable mean-variance catch frontier. It computes a mean-variance frontier for catch using UNFAO historical fisheries data. Finally, the paper discusses the historical trend in inefficiency.

Keywords: Environmental Economics and Policy; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 21
Date: 2003
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea03:22191

DOI: 10.22004/ag.econ.22191

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