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Optimal Bioeconomic Multispecies Fisheries Management: A Baltic Sea Case Study

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  • We assess cod, herring, and sprat fisheries in the Baltic Sea under different salinity conditions using a bioeconomic model with simple predation functions. We compare the current fishing policy to an optimal policy under two different salinity conditions, which have a link to climate change. The fishery of these species is not at the most profitable level. If the fishing mortalities are lower, economic return will be greater in the long run. A lower fishing mortality for cod, which allows time for individuals to grow and achieve a higher economic value and reproduction potential, would result in the recovery of the cod stock. Under a high salinity level, which leads to better conditions for cod recruitment, the cod stock has a better chance to recover even without a decrease in fishing mortality. Therefore, fishery management is even more important under conditions of low salinity, which are likely to prevail in the future due to changing climate.
  • This extended abstract is based on a full article that has been published originally in Marine Resource Economics, volume 27, pp. 115-136, and published here with a kind permission of the journal. Link to the full article: http://marineresourceeconomics.com/doi/abs/10.5950/0738-1360-27.2.115. This study is part of the Nordic Centre of Excellence project "Nordic Centre for Research on Marine Ecosystems and Resources under Climate Change" (NorMER) supported financially by the Nordforsk Top-Level Research Initiative (TFI), NordForsk Project number 36800.
  • KEYWORDS: Economic Modeling, Fisheries economics, Fisheries Management, Bioeconomic Modeling, Multispecies Modeling
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  • Nieminen, E., Lindroos, M., and O. Heikinheimo. Optimal Bioeconomic Multispecies Fisheries Management: A Baltic Sea Case Study 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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  • AQUAFISH, USAID, NEPAD Planning and Coordination Agency, Norad, The World Bank, Hyatt Regency Dar es Salaam, NAAFE, World Wildlife Fund, United Nations University Fisheries Training Programme, ICEIDA, JICA, JIFRS, The European Association of Fisheries Economists, International Seafood Sustainability Foundation
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