Identifying Nash equilibrium strategies for a multi-fleet multi-national fishery under uncertainty Public Deposited

http://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/bz60d192w

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  • Designing economic incentives to achieve a desired policy outcome from a fishery could be helped by exploring it within a game-theoretic context. We use Baltic salmon fishery to show how complex interactions between national fleets, offshore and coastal fishermen, and migratory stock dynamics can be analysed with a bio-economic model set up as a game of four asymmetric players. For Baltic salmon there is a stochastic and complex bio-economic model conditioned on a state-space Bayesian stock assessment which captures uncertainty in stock dynamics. We calculate Nash equilibrium under various cost and price scenarios for each combination of a salmon population model parameters, using an MCMC chain obtained from their joint posterior distribution so that the correlations between different life-history parameters are accounted for. We use results of many simulations to explore how natural variability and economic uncertainties affect Nash equilibrium strategies.
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  • Levontin, P. & Kulmala, S. Identifying Nash equilibrium strategies for a multi-fleet multi-national fishery under uncertainty. In: Visible Possibilities: The Economics of Sustainable Fisheries, Aquaculture and Seafood Trade: Proceedings of the Sixteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 16-20, Dar es Salaam, Tanzania. Edited by Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2012.
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  • description.provenance : Made available in DSpace on 2014-02-17T23:28:49Z (GMT). No. of bitstreams: 1 Levontin-154.pdf: 13181 bytes, checksum: 3910139c015aefb2e5bdfb4c44c87fc4 (MD5) Previous issue date: 2012
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