Fisheries instrument choice under uncertainty

Tom Kompas; Tuong Nhu Che; R. Quentin Grafton

doi:10.3368/le.84.4.652

Fisheries instrument choice under uncertainty

Tom Kompas^*, Tuong Nhu Che, R. Quentin Grafton

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

13 Citations (Scopus)

Abstract

This paper uses data from an actual fishery to construct a tractable, 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 harvest 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 insights regarding the relative merits of catch and effort controls in fisheries management.

Original language	English
Pages (from-to)	652-666
Number of pages	15
Journal	Land Economics
Volume	84
Issue number	4
DOIs	https://doi.org/10.3368/le.84.4.652
Publication status	Published - Nov 2008

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title = "Fisheries instrument choice under uncertainty",

abstract = "This paper uses data from an actual fishery to construct a tractable, 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 harvest 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 insights regarding the relative merits of catch and effort controls in fisheries management.",

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AB - This paper uses data from an actual fishery to construct a tractable, 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 harvest 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 insights regarding the relative merits of catch and effort controls in fisheries management.

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Fisheries instrument choice under uncertainty

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