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Overfishing and No Substitution between Wild and Farmed Fish: Lessons from the European Sea Bass

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  • Overfishing has been cited as a major cause of sea bass population decline and recent scientific analyses have reinforced previous concerns of unsustainable fishing advising urgently for a substantial reduction in fishing mortality. For the first time, 2013, the ICES released an analytical advice on the status of the European Sea bass, pointing out how after a long period of increase there has been a decline in stock biomass resulting in a proposed 20% reduction in catches for 2014. Further more, as a consequence of the dwindling numbers of bass in European seas the European Commission has agreed Emergency Measures to prevent a total collapse of bass stocks. One of the key questions in this problem seems to be market interactions between wild and farmed fish. It has been argued that aquaculture should be considered as a solution to overfishing, despite aquaculture representing the majority of the growth in fish supply over the past two decades. Following Anderson´s (1985) model if wild and farmed fish are substitutes, the increasing availability of farmed fish will lead to a decreasing pressure over wild stocks. Nevertheless recent papers have shown that is not possible to generalize the substitutability. In fact, co-integration tests carried out for this research show that wild and farmed sea bass are not substitutes in the French market. Therefore, we should expect high incentives for overfishing. And, in this context, tools aimed to sustain fisher's income, as the fish labels, since they contribute to higher fish prices, they also stress overfishing.
  • Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, held July 11-15, 2016 at Aberdeen Exhibition and Conference Center (AECC), Aberdeen, Scotland, UK.
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  • Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016.
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  • 0976343290

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