| Registro completo |
| Provedor de dados: |
31
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| País: |
United States
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| Título: |
Fishery Management Under Multiple Uncertainty
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| Autores: |
Sethi, Gautam
Costello, Christopher
Fisher, Anthony C.
Hanemann, W. Michael
Karp, Larry S.
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| Data: |
2006-02-06
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| Ano: |
2004
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| Palavras-chave: |
Resource /Energy Economics and Policy
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| Resumo: |
Among others who point to environmental variability and managerial uncertainty as causes of fishery collapse, Roughgarden and Smith (1996) argue that three sources of uncertainty are important for fisheries management: variability in fish dynamics, inaccurate stock size estimates, and inaccurate implementation of harvest quotas. We develop a bioeconomic model with these three sources of uncertainty, and solve for optimal escapement based on measurements of fish stock in a discrete-time model. Among other results we find: (1) when uncertainties are high, we generally reject the constant-escapement rule advocated in much of the existing literature, (2) inaccurate stock estimation affects policy in a fundamentally different way than the other sources of uncertainty, and (3) the optimal policy leads to significantly higher commercial profits and lower extinction risk than the optimal constant-escapement policy (by 42% and 56%, respectively).
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
19756
http://purl.umn.edu/25117
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| Editor: |
AgEcon Search
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| Relação: |
University of California, Berkeley>Department of Agricultural and Resource Economics>CUDARE Working Papers
CUDARE Working Paper 929
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| Formato: |
31
application/pdf
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