Marine Resources
Madalena Barbosa Marine Resources – April, 2012
Index
Common Property Fishery of N identical fishing vessels model: .................................................. 2 1.a) Biological Stock Equilibrium without Harvest .................................................................... 2 1.b) Maximum Sustainable Yield ............................................................................................... 2 1.c) Open Access Equilibrium .................................................................................................... 5 1.d) Optimal Economic Equilibrium .......................................................................................... 6 1.e) Comparison between Maximum Sustainable Equilibrium and both Open Access Equilibrium and Optimal Economic Equilibrium ....................................................................... 8 1.f) Assuming a schooling fishery .............................................................................................. 9 2. Different possible policies ....................................................................................................... 11 2.a) Total Allowable Catches ................................................................................................... 11 2.b) Effort and harvest taxes ................................................................................................... 13 2.c) Individual Transferable Quotas - ITQ’s ............................................................................. 15 3. Recommendation statement for the policy decision ITQ’s ..................................................... 16 Figure 1Growth and Harvest as function of stock size .................................................................. 8 Figure 2Sustainable revenue, total costs and net benefit of fishing effort. ................................. 8 Figure 3 Growth and Harvest as function of stock size for an Open Access equilibrium and a set TAC
Index
Common Property Fishery of N identical fishing vessels model: .................................................. 2 1.a) Biological Stock Equilibrium without Harvest .................................................................... 2 1.b) Maximum Sustainable Yield ............................................................................................... 2 1.c) Open Access Equilibrium .................................................................................................... 5 1.d) Optimal Economic Equilibrium .......................................................................................... 6 1.e) Comparison between Maximum Sustainable Equilibrium and both Open Access Equilibrium and Optimal Economic Equilibrium ....................................................................... 8 1.f) Assuming a schooling fishery .............................................................................................. 9 2. Different possible policies ....................................................................................................... 11 2.a) Total Allowable Catches ................................................................................................... 11 2.b) Effort and harvest taxes ................................................................................................... 13 2.c) Individual Transferable Quotas - ITQ’s ............................................................................. 15 3. Recommendation statement for the policy decision ITQ’s ..................................................... 16 Figure 1Growth and Harvest as function of stock size .................................................................. 8 Figure 2Sustainable revenue, total costs and net benefit of fishing effort. ................................. 8 Figure 3 Growth and Harvest as function of stock size for an Open Access equilibrium and a set TAC