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The Dynamics of a Fishery When Faced with the Aquaculture Dilemma

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  • Aquaculture has been the world's fastest growing food production technology in recent decades and the effects of its developments are felt in seafood markets worldwide. As a result, fishermen face an additional challenge that has the potential to impact their choice of whether to reduce participation, what species to target, and how often and to what extent to invest into capital. The price of seafood and the design of the management system, including the absence of one, are key indicators of how aquaculture and capture fisheries interact. Understanding the complex dynamics of this interaction is important for policy makers and fishers equally. This paper presents a continuous-time bioeconomic model that links fishing fleet dynamics as a function of aquaculture prices for the closest substitute species, and renewable resource dynamics, under three main management systems: open access, maximum economic yield, and regulated restricted access. The dynamics for the fishing fleet are described through numerical simulations focusing on the markets targeted, capital investment and fleet life expectancy conditional on market interactions between the fisheries and aquaculture at different levels of substitutability and with different assumptions with respect to the perceived quality of the wild product compared to the farmed. Finally, we will extrapolate our findings to world regions where fishermen’s livelihoods depend on commercial fishing, and to those that might expect to be impacted by the emergence or progress in aquaculture.
  • 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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