Journal article

Fisheries Instrument Choice under Uncertainty

Tom Kompas, Toung Nhu Che, R Quentin Grafton

LAND ECONOMICS | UNIV WISCONSIN | Published : 2008

Abstract

This paper uses data from an actual fishery to construct a tractable, dynamic model to compare expected profit and its variance, optimal stock size, optimal harvest rate, and optimal fishing effort under different management regimes under uncertainty. The results provide a comparison of instrument choice between a total harvest control and a total effort control under uncertainty, an original method to evaluate the tradeoffs between profits and other criteria in a dynamic context, and insights regarding the relative merits of catch and effort controls in fisheries management. © 2008 by the Board of Regents of the University of Wisconsin System.

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