Towards the Optimal Management of the Northeast Arctic Cod Fishery

Andries Richter and Paulo A.L.D. Nunes
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Paulo A.L.D. Nunes: Marine Economics Research Programme, The Mediterranean Science Commission – CIESM, Principauté de Monaco, and Department of Agriculture and Natural Resources Economics – TESAF, University of Padova

No 2011.40, Working Papers from Fondazione Eni Enrico Mattei

Abstract: The objectives pursued by governments managing fisheries may include maximizing profits, minimizing the impact on the marine ecosystem, or securing employment, which all require adjusting the composition of the fishing fleet. We develop a management plan that can be adapted to those objectives and allows the regulator to compare the long-run profits between the various management options. We apply the model to the case of Northeast Arctic cod, and estimate the cost and harvesting functions of various vessel types, the demand function, and a biological model to provide key insights regarding the optimal management of this valuable fish species.

Keywords: Built Coastal Environment; Natural Coastal Environment; Ecosystem Service Valuation; Geographic Information Systems; Mapping Ecosystem Values; Marine Biodiversity; Scaling up; Spatial Analysis; Spatial Economic Valuation; Value Transfer (search for similar items in EconPapers)
JEL-codes: C53 Q26 Q57 R12 (search for similar items in EconPapers)
Date: 2011-05
New Economics Papers: this item is included in nep-agr and nep-env
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Citations: View citations in EconPapers (2)

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Working Paper: Towards the Optimal Management of the Northeast Arctic Cod Fishery (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2011.40

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