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
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: Q22 D81 (search for similar items in EconPapers)
Pages: 30 pages
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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Persistent link: https://EconPapers.repec.org/RePEc:anu:eenwps:0607
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