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Ecosystem Economics: The Baltic Cod Fishery Case

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  • Conventional bioeconomic analyses focus on the economically optimal exploitation of the fish resources by maximizing the resource rent subject to a resource restriction. This paper expands this type of analysis by addressing the fishing activity's impact on the ecosystem biologically as well as economically. A dynamic bioeconomic model is used to estimate the development with respect to fish stock recovery and then by use of an ecosystem model the development of a number of indicators for the ecosystem services are estimated. A case study suggests that stock recovery by use of fish quota management entails higher profit in the industry and at the same time results from the ecosystem estimations show that the changes in most of the indicators are relatively small, which leads to the conclusion that the pursuit of stock recovery and increased profit is not at the expense of the underlying ecosystem.
  • Keywords: Ecosystem Modelling, Modeling and Economic Theory, Fisheries Economics
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  • Andersen, Peder, H. Frost, A. Hoff, H. Lassen, S.A. Pedersen. 2014. Ecosystem Economics: The Baltic Cod Fishery Case. 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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