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Barents Sea capelin and cod stock scenarios: Testing biological consequences of economical based management

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  • We present a scenario-model for the joint Norwegian and Russian managed capelin and cod stocks in the Barents Sea. The model basically consists of two sub models. The first is an autonomous management model which, based on profit functions and growth functions with coefficients calibrated from real data, finds a feedback rule for maximizing the Norwegian share of the fishery rent by using numerical dynamic programming. The second (Bifrost) is a biological multi-species growth model provided by the Institute of Marine Resources. This model has higher resolution than the simple top-down growth used in the management model. With this we simulate possible scenarios resulting from employing the management model as decision making instrument in the real world. Doing so, we concentrate on possible future catch and stock sizes rather than on economics. Scenarios from six different strategies are tested, of which two of them is pure biological and inspired from existing management. Bifrost is applied direct to measure total allow catch (TAC) in these strategies, whereas the four economic strategies are found from the management model. These strategies are compared with the biologic strategies and the results are rather promising on the behalf of the economical strategies.
  • Keywords: Barents Sea, Economical based management, Capelin and cod stocks, Biological consequences, Fisheries Economics
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  • Sandal, Leif Kristoffer and Sigurd Tjelmeland. 2008. Barents Sea capelin and cod stock scenarios: Testing biological consequences of economical based management. In: Proceedings of the Fourteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 22-25, 2008, Nha Trang, Vietnam: Achieving a Sustainable Future: Managing Aquaculture, Fishing, Trade and Development. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2008.
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  • US National Oceanic and Atmospheric Administration (NOAA) Fisheries Division, The Department of Fisheries and Oceans, Canada; Aquaculture CRSP and AquaFish CRSP; Minh Phu Seafood Corporation; Vietnam Datacommunication Company (VDC); Camau Frozen Seafood Processing Import Export Corporation (Camimex); Long Sinh Limited Company; Mai Linh Group and Nam Viet Corporation.
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