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Fishing History Determines Economic Value of Ecological Information in Multispecies Fisheries

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  • Calls to account for ecological interactions and tradeoffs in fishery management have grown over time. For example, some groups are asking to reduce global forage fish catch by 10-20% to ensure food supplies for other species These efforts follow advances in ecology and the development of large food web models, such as Ecosim and Atlantis. To help inform ecosystem-based management, we examine the implications of ecological interactions for management, and what are the costs of assuming one type of interaction when in fact another interaction is present? We develop a flexible delay-differential bioeconomic model based on cod and herring fisheries for multiple types of species interactions. We incrementally add complexity to species interactions, from no interactions, cod predation on herring, linear herring predation on cod eggs, and non-linear predation on cod eggs that produces depensation. The latter case has been hypothesized to result in a regime switch whereby cod might not be able to rebuild even in the absence of fishing. We use pseudospectral collocation to solve for the optimal dynamic solution under numerous fishing histories and ecological interactions. We find small deviations in optimal management and net present value across the cases, which imply that assuming the fish stocks are independent (aka single species management) is not necessarily an inferior strategy. The exception to this result is when the fish stocks were severely overfished. In this case, single species management could suppress cod recovery and result in economic losses on the order of 20% over time.
  • 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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  • Aberdeen, Scotland, UK
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  • 0976343290

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