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A Stochastic Optimal Control Methodology for Managing the Trans-Boundary Pacific Sardine Fisheries Public Deposited

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  • The Pacific sardine fishery is shared but independently managed by three nations: Canada, USA and Mexico. As a result, potential conflict scenarios may arise. A stochastic optimal control methodology is presented to analyze potential conflict scenarios by first considering a deterministic logistic stock growth function and adding a stochastic term, specified by a Wiener process. We identify Feedback Nash Equilibriums (FNE) in a 2 player scenario in the presence and absence of cooperative resource extraction with uncertainty. Players participating in the fishery can revise their strategy contingent upon the current stock size and current time. We suggest an instantaneous payment transfer mechanism when extractors cooperatively harvest the sardine stock under principles of group optimality and individual rationality. We compare the cooperative game theoretic outcome to the non-cooperative outcome. Finally, we present simulation results comparing the feedback approach to standard open loop strategies, where agents commit to a harvest plan at the initial time. This work is compared to a previous approach where a deterministic optimal control framework was developed and the merits of introducing stochasticity in the stock’s growth function are highlighted.
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  • Hariharan, Aneesh, Vincent Gallucci, Chris Anderson, Sandy McFarlane, and David Fluharty. 2015. A Stochastic Optimal Control Methodology for Managing the Trans-Boundary Pacific Sardine Fisheries. In: Proceedings of the Eighth Biennial Forum of the North American Association of Fisheries Economists, May 20-22, 2015, Ketchikan, Alaska: Economic Sustainability, Fishing Communities and Working Waterfronts. Compiled by Ann L. Shriver and Melissa Errend. North American Association of Fisheries Economists, Corvallis, Oregon, USA, 2015.
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  • Alaska Sea Grant, North Pacific Fishery Management Council, North Pacific Research Board, Northern Economics, Pollock Conservation Cooperative Research Center, Rasmuson Foundation, University of Alaska Fairbanks, School of Fisheries and Ocean Sciences, University of Alaska Southeast, Ketchikan
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  • description.provenance : Submitted by Melissa Errend (melissa.errend@gmail.com) on 2015-11-02T17:36:16Z No. of bitstreams: 1 Hariharan NAAFE 2015.pdf: 566182 bytes, checksum: 19ef72833594f77bc49ec47cd0d96d10 (MD5)
  • description.provenance : Made available in DSpace on 2015-11-02T21:44:01Z (GMT). No. of bitstreams: 1 Hariharan NAAFE 2015.pdf: 566182 bytes, checksum: 19ef72833594f77bc49ec47cd0d96d10 (MD5) Previous issue date: 2015-05
  • description.provenance : Approved for entry into archive by Susan Gilmont(susan.gilmont@orst.edu) on 2015-11-02T21:44:01Z (GMT) No. of bitstreams: 1 Hariharan NAAFE 2015.pdf: 566182 bytes, checksum: 19ef72833594f77bc49ec47cd0d96d10 (MD5)

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