Stochastic Optimization for Multispecies Fisheries in the Barents Sea

Diwakar Poudel and Leif Sandal ()

No 2014/2, Discussion Papers from Norwegian School of Economics, Department of Business and Management Science

Abstract: This study presents a multispecies stochastic model. The model suggests optimal fishing policy for two species in a three species predator prey ecosystem in the Barents Sea. We have employed stochastic dynamic programing to solve a three dimensional model, where catch is optimized by a multispecies feedback strategy. Application of the model in cod, capelin and herring ecosystem in the Barents Sea shows that the optimal catch for stochastic interaction model is more conservative compared to deterministic policy. Furthermore, we found that stochasticity has strong effect on optimal exploitation policy in the prey (capelin) compared to the predator (cod) species.

Keywords: Barents Sea; Ecosystem based management; Multispecies; Stochastic optimization (search for similar items in EconPapers)
JEL-codes: C61 Q22 Q57 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2014-02-20
New Economics Papers: this item is included in nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/11250/194958 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://hdl.handle.net/11250/194958 [302 Found]--> https://www.unit.no/brage-denne-lenken-er-ikke-lenger-gyldig [301 Moved Permanently]--> https://sikt.no/brage-denne-lenken-er-ikke-lenger-gyldig)

Related works:
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:hhs:nhhfms:2014_002

Access Statistics for this paper

More papers in Discussion Papers from Norwegian School of Economics, Department of Business and Management Science NHH, Department of Business and Management Science, Helleveien 30, N-5045 Bergen, Norway. Contact information at EDIRC.
Bibliographic data for series maintained by Stein Fossen ().