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Implications of a nested stochastic/deterministic bio-economic model for a pelagic fishery

McDonald, A. David; Sandal, Leif Kristoffer; Steinshamn, Stein Ivar
Working paper, Working paper
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URI
http://hdl.handle.net/11250/165992
Date
2001-05
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  • Working papers (SNF) [809]
Abstract
Use is made of an economically optimal feedback rule to determine optimal levels of exploitation of a pelagic fish species. Data from the southern bluefin tuna fishery for the years 1960 - 1996 are utilised to apply this rule to aggregated deterministic and stochastic models of population dynamics. Comparison of the rule-based results with historical records indicates that over much of the period the fishery was economically overexploited and a harvesting moratorium could have been imposed to improve economic returns from the fishery and to allow stock recovery.
Publisher
SNF/Centre for Fisheries Economics
Series
Working Paper
2001:17
Discussion Paper
2001:5

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