Risk versus Economic Performance in a Mixed Fishery

Luc Doyen (), R. A Deng, C. M. Dichmont, Sophie Gourguet (), S. Jennings, L. Richard Little (), Sean Pascoe and Olivier Thébaud ()
Additional contact information
Sophie Gourguet: AMURE - Aménagement des Usages des Ressources et des Espaces marins et littoraux - Centre de droit et d'économie de la mer - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UBO - Université de Brest - IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique - CNRS - Centre National de la Recherche Scientifique
L. Richard Little: Marine and Atmospheric Research - Marine and Atmospheric Research - CSIRO - Commonwealth Scientific and Industrial Research Organisation [Australia]
Olivier Thébaud: AMURE - Aménagement des Usages des Ressources et des Espaces marins et littoraux - Centre de droit et d'économie de la mer - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UBO - Université de Brest - IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique - CNRS - Centre National de la Recherche Scientifique, CSIRO-MAR - CSIRO Marine and Atmospheric Research - CSIRO - Commonwealth Scientific and Industrial Research Organisation [Australia]

Post-Print from HAL

Abstract: Balancing bio-economic risks and high profit expectations is often a major concern in fisheries management. We examine this trade-off in the context of the Australian Northern Prawn Fishery (NPF). The fishery derives its revenue from different prawn species with different dynamics and recruitment processes. A multi-species bio-economic and stochastic model is used to examine the trade-offs between mean profitability of the fishery and its variance, under a range of economic scenarios, fishing capacities and distributions of fishing effort across the various sub-fisheries that comprise the NPF. Simulation results show that the current fishing strategy diversifying catch across sub-components of the fishery entails a compromise between expected performance and risk. Furthermore, given the current economic conditions, increases in fleet size would improve the expected economic performance of the fishery, but at the cost of increased variability of this performance

Keywords: risk; economic performance; fishery (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Published in Ecological Economics, 2014, 99, pp.110-120. ⟨10.1016/j.ecolecon.2014.01.013⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Risk versus economic performance in a mixed fishery (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01134866

DOI: 10.1016/j.ecolecon.2014.01.013

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().