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The triple bottom line: Meeting ecological, economic and social goals with Individual Transferable Quotas

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  • This paper deals with the sustainable management of a renewable resource based on individual and transferable quotas (ITQs) when agents differ in terms of harvesting costs or catchability. In a dynamic bio-economic model, we determine the conditions under which the manager of an ITQ system can achieve sustainability objectives which simultaneously account for stock renewal, economic efficiency and maintenance of fishing activity for the agents along time. We use the viability approach and more specifically the viability kernel to handle such a feasibility problem. We show that the capacity for the manager to set viable management strategies based on fixing Total Allowable Catch (TAC) limits simultaneously depends on the degree of heterogeneity of users in the fishery, the current value of the stock and its dynamic features. To quantify this, we also compute the maximal number of active (viable) agents for a given set of agents and a given stock. It is shown how this number decreases with heterogeneity of involved agents while it increases with the stock. A numerical example illustrates the whole results.
  • Keywords: Fisheries Modeling, Fisheries Economics, Modeling and Economic Theory
  • Keywords: Fisheries Modeling, Fisheries Economics, Modeling and Economic Theory
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  • Doyen, Luc, L. Rich Little, Jean-Christophe Pereau and Olivier Thébaud. 2010. The triple bottom line: Meeting ecological, economic and social goals with Individual Transferable Quotas. 11 pages. In: Proceedings of the Fifteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 13-16, 2010, Montpellier, France: Economics of Fish Resources and Aquatic Ecosystems: Balancing Uses, Balancing Costs. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2010.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, Agence Française de Développement, Ministère de l’Enseignement Supérieur et de la Recherche, Ministère de L’Alimentation de L’Agriculture et de la Pêche, Ministère de l’Énergie, du Développement Durable et de la Mer, La Région Languedoc Rouslilon, Département Hérault, Montpellier Agglomèration, The Department of Fisheries and Oceans, Canada, and AquaFish Collaborative Research Support Program (CRSP).
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