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Age-Structured Ecological-Economic Multi-Species Models for Baltic Sea Fisheries

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  • Biologists have criticized traditional biomass models in fishery economics for being oversimplified. Biological stock assessment models are more sophisticated with regard to biological content, but rarely account for economic objectives. Recently, age-structured models of fish stocks have increasingly been used in fisheries economics, but applications have so far mainly been limited to single-species settings. Here, a multi-species age-structured optimization model will be presented for the Baltic that comprises the three economically most important stocks, cod, herring, and sprat, and the effects of predator-prey relationships between these stocks. The optimization model not only studies economically efficient management (using the Kaldor-Hicks criterion), but also studies distributional effects by studying Pareto-efficient allocations in the absence of compensation payments between fleets. It is shown that the distributional effects of economically efficient management can be large, and that, on the other hand, addressing distributional issues, or ecosystem considerations, can be very costly.
  • Keywords: Coupled Econ.‐Ecol. Models for EBFM: Exploration of Tradeoffs Between Model Complexity and Management Needs, Fisheries Economics, Special Topics
  • Keywords: Coupled Econ.‐Ecol. Models for EBFM: Exploration of Tradeoffs Between Model Complexity and Management Needs, Fisheries Economics, Special Topics
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  • Quaas, M. Age-Structured Ecological-Economic Multi-Species Models for Baltic Sea Fisheries. 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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