Optimal Harvesting of an Age-Structured Schooling Fishery

Tahvonen, Olli, Quaas, Martin, Schmidt, Jörn and Voss, Rüdiger (2013) Optimal Harvesting of an Age-Structured Schooling Fishery Environmental & Resource Economics, 54 (1). pp. 21-39. DOI 10.1007/s10640-012-9579-x.

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Abstract

Biologists have criticized traditional biomass models in fishery economics for being oversimplified. Biological stock assessment models are more sophisticated with regard
to biological content, but rarely account for economic objectives. This study includes a full
age-structured population model for studying schooling fisheries and extends the delayed
difference approach used in earlier studies. We take the total harvest as the choice variable, resulting in a simple analytical structure. The model produces optimal steady states that may be higher or lower compared to the delayed-difference formulation. The model is applied to the Baltic sprat fishery. Both ecological and harvesting cost data support specifying Baltic sprat as a schooling fishery. Given nonlinear harvesting costs, the optimal solution is a path toward a steady state with smooth annual harvest and population age structure. Sensitivity
analysis shows that the optimal solution is highly dependent on the population level of the
sprat’s main predator Baltic cod. A linear cost function and an interest rate below 9% imply pulse fishing instead of smooth continuous harvesting. Given nonlinear harvesting cost, the optimal steady state yield is rather insensitive to changes in the interest rate. However, under a high cod scenario, interest rates of 10% or higher implies that no optimal steady state exists.

Document Type: Article
Keywords: Age-structured models · Optimal harvesting · Economic-ecological optimization · Fishery management · Multispecies interaction; ALKOR
Research affiliation: OceanRep > The Future Ocean - Cluster of Excellence > FO-R03
OceanRep > The Future Ocean - Cluster of Excellence > FO-R06
OceanRep > The Future Ocean - Cluster of Excellence > FO-R02
Kiel University
OceanRep > The Future Ocean - Cluster of Excellence
OceanRep > The Future Ocean - Cluster of Excellence > FO-R01
Refereed: Yes
DOI etc.: 10.1007/s10640-012-9579-x
ISSN: 0924-6460
Projects: Future Ocean, FACTS
Date Deposited: 05 Aug 2013 06:56
Last Modified: 13 Apr 2017 13:25
URI: http://eprints.uni-kiel.de/id/eprint/21448

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