Fisheries Instrument Choice under Uncertainty

Tom Kompas, Nhu Che and R. Quentin Grafton

Economics and Environment Network Working Papers from Australian National University, Economics and Environment Network

Abstract: This paper uses data from an actual fishery to construct a tractable and dynamic model to compare expected profit and its variance, optimal stock size, optimal harvest rate and optimal fishing effort under different management regimes under uncertainty. The results provide a comparison of instrument choice between a total harvests control and a total effort control under uncertainty, an original method to evaluate the tradeoffs between profits and other criteria in a dynamic context, and provide guidance as to the relative merits of catch and effort controls in fisheries management.

Keywords: fisheries management; uncertainty (search for similar items in EconPapers)
JEL-codes: D81 Q22 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2006-08
New Economics Papers: this item is included in nep-env and nep-res
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Journal Article: Fisheries Instrument Choice under Uncertainty (2008)
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