This paper analyzes optimal fishery management in the presence of an endangered predator that competes with humans for a commercially viable prey. Because traditional predator controls are not possible when the predator is endangered, we focus on harvest effort controls over the prey’s habitat as a means to maintain the predator-prey relationship and sustain the economic viability of the fishery. The management model is based on optimizing fishery rents subject to maintaining a growing predator population. We derive optimal management decisions, along a singular path, with and without a predator constraint and demonstrate the need to consider the predator-prey relationship explicitly. In addition, we derive an expression for the shadow value of the endangered predator, along the singular path, in terms of forgone fishery rents. To illustrate these results, we provide an application to the contentious California sea otter-urchin system and the related urchin fishery.
Keywords: predator-prey, singular control, fixed endpoint, endangered species
Kaplan, Jonathan D. and Smith, Martin D. Optimal Fisheries Management in the Presence of An Endangered Predator and Harvestable Prey. In: Microbehavior and Macroresults: Proceedings of the Tenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 10-14, 2000, Corvallis, Oregon, USA. Compiled by Richard S. Johnston and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2001.
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