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Optimal Harvest in a Multispecies Age Structured Fishery Model at Different Level of Density Dependency

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  • This study suggests an optimal harvest policy for Barents Sea species, namely Northeast Arctic Cod (Gadus morhua) and Capelin (Mallotus villosus) in the multispecies ecosystem. We have solved a multispecies age structured bioeconomic model for predator-prey interaction. Barents Sea stock data from ICES (International Council for the Exploration of the Seas) are employed for the application of the model. Basically, this paper is an application of theoretical model by Steinshamn (2011), which highlights that stock density dependency plays greater role in the optimal management of fishery. We study several scenarios of stock density for predator-prey ecosystem to investigate the optimal harvest policy in multispecies environment. Of the several general biological and economic constraints, we also include the sustainability constraint in the model that contributes towards the ecosystem based management of fishery. Our preliminary findings are that smooth but lower harvest is optimal for capelin fishery compared to the single species model. While pulse fishing yields higher value in cod (predator) compared to the current fishing policy because of the lower cost of harvesting due to density dependency.
  • Keywords: Modeling and Economic Theory, Modelling and Management, Fisheries Economics
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  • Poudel,Diwakar. 2014. Optimal Harvest in a Multispecies Age Structured Fishery Model at Different Level of Density Dependency. In: Towards ecosystem based management of fisheries: what role can economics play?: Proceedings of the Seventeenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 7-11, 2014, Brisbane, Australia. Complied by Ann L. Shriver & Melissa Errend. Corvallis, OR: International Institute of Fisheries.
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  • Fisheries Research & Development Corporation, World Wildlife Fund, MG Kailis Group, AquaFish Innovation Lab, NOAA Fisheries, The European Association of Fisheries Economists, Japan International Fisheries Research Society, United Nations University, NORAD
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