The Pacific sardine fishery is shared but independently managed by three nations: Canada, USA and Mexico. As a result, potential conflict scenarios may arise. A stochastic optimal control methodology is presented to analyze potential conflict scenarios by first considering a deterministic logistic stock growth function and adding a stochastic term,...
The International Food Policy Research Institute (IFPRI), the World Fish Center (ICLARM), and the Food and Agriculture Organization (FAO), are collaborating to incorporate fish into IMPACT, a global model of food supply and demand that estimates market-clearing prices for 28 commodities in 36 regions. Results of the projections to 2020...
This paper develops an option value model to examine vessel owners in deciding to participate or not in the vessel buyback program. The model accounts for the uncertainty generally involved in a decision to retire an aged vessel and the underlying value of waiting for new information about the profitability...
Milkfish has been farmed in Taiwan for over 300 years. Faced with a limited land resource, the industry is looking at the problem of how to maintain a sustainable and efficient production. This study specified a stochastic production frontier function to estimate potential milkfish farm output and efficiency by using...
The incorporation of fisheries commodities into the International Food Policy Research Institute’s (IFPRI) International Model for Policy Analysis of Agricultural Commodities and Trade (IMPACT) model suggests that demand for fisheries products will rise faster than supply over the next two decades, and that fishery commodity prices will rise relative to...
There is increasing awareness of and concern about the actual and potential adverse effects of fishing on the aquatic environment. New Zealand, like many other countries, has developed a range of initiatives to address specific issues related to the effects of fishing, including establishing marine reserves, fishing method restrictions, observer...
This paper explores the issue of using marine reserves in combination with quotas as fisheries management tools. The underlying biological dynamics are described by a patchy environment model, in which a metapopulation is built up by linked sub-populations that are distributed across a set of spatially discrete habitats or patches....