Discount Effects and Canada's PACIFIC Halibut Fishery

Cook, B.A.

doi:10.1086/mre.5.1.42871966

Cited by 4 publications

(5 citation statements)

References 7 publications

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“…The sensitivity of estimates of NEV to parameters selected a priori was examined in the allspecies model of the otter trawl fishery. As in Cook's (1988) study of the Pacific halibut fishery of Canada, our estimates of NEV were insensitive to discount rates between 0 and 10%, varying by less than 2% over this range. This insensitivity might be explained by optimum yield for valuable species such as groundfish being near the threshold of maximum sustainable yield.…”

Section: Dissipated Economic Valuesupporting

confidence: 45%

“…Despite the many discipline-oriented studies, estimation of bioeconomic models of the New England groundfish fishery has been hindered by insufficient and incompatible biological and economic data. Such data problems appear to characterize other fisheries, too; a recent bioeco-nomic analysis of Canada's fishery for Pacific halibut Hippoglossus stenolepis was described by its author as the first empirical application of the classic, yet conceptually simple, Gordon-Schaefer model in a dynamic framework (Cook 1988(Cook ,1990).…”

Section: Bioeconomic Modelsmentioning

confidence: 99%

“…Our bioeconomic model of the New England groundfish fishery is similar to the Gordon-Schaefer model used by Cook (1988Cook ( , 1990) and others (e.g., Bell 1972). However, the equations in our model served strictly instrumental purposes.…”

Section: Bioeconomic Modelsmentioning

confidence: 99%

“…Complex structural models of New England groundfish harvests and inputs of capital and labor, which are subject to debate (Kirkley and Strand 1988;Squires 1988), were beyond the needs and scope of our study. Instead, and as in other empirical bioeconomic analyses (e.g., Bell 1972;Cook 1988), the following linear technological production function was estimated:…”

Section: Functional Formsmentioning

confidence: 99%

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Potential Economic Benefits from Efficient Harvest of New England Groundfish

Edwards

Murawski

1993

North American Journal of Fisheries Management

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Dissipation of economic benefits from commercial harvest of the multispecies groundfish resource in U.S. waters off New England was estimated from dynamic optimization of empirical bioeconomic models. Net economic value could be maximized by an estimated 70% reduction in fishing effort, resulting in a sevenfold increase in the size of the harvestable resource and a threefold increase in sustainable yield. Under these conditions, fishers, seafood industries, and consumers could benefit from an estimated US$ 150 million increase in sustainable net economic value each year, including about $ 130 million in resource rent.

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Section: Dissipated Economic Valuesupporting

confidence: 45%

Section: Bioeconomic Modelsmentioning

confidence: 99%

Section: Bioeconomic Modelsmentioning

confidence: 99%

Section: Functional Formsmentioning

confidence: 99%

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Potential Economic Benefits from Efficient Harvest of New England Groundfish

Edwards

Murawski

1993

North American Journal of Fisheries Management

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“…Following Cook (1988) and Schaefer (1954), we assume that the dynamics of the population are governed by the differential equation, dX/dt = rX(1 -X/k) -Y (1) with initial condition X(0) = X 0 given and r and k positive parameters. The parameter r is known as the intrinsic growth rate.…”

Section: Journal Of Economicmentioning

confidence: 99%

A Differential Game Model of Canada′s Pacific Halibut Fishery

Chappell¹,

Dury²,

Straker³

1992

Journal of Economic Studies

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. IntroductionIn an interesting article, Cook and Copes (1987) derived expressions for the optimal levels for Canada's Pacific halibut catch. A bioeconomic analysis of the fishery was carried out and, using empirical estimates of Canadian cost and revenue relationships, optimal equilibrium harvesting levels were established under several different criteria.Recently Cook (1988) extended these results and considered a model of the fishery which incorporated dynamic effects. The dynamic character of the model derives essentially from discounting future profits or other benefits. Cook showed that the steady-state population of halibut was a decreasing function of the discount rate, whereas steady-state values of fishing effort and harvest level increased with the discount rate. However, for any plausible level of discount rate Cook showed that the actual level of effort expended in the fishery over quite a long period of time far exceeded the optimal level under any of the criteria considered. The purpose of this article is to consider the dynamic model of the fishery as an open-loop differential game. We feel this is intuitively appealing since any fishery of this type comprises many "small" fishermen each independently pursuing his goals. We assume that each fisherman maximizes the future discounted stream of his own profits; thus the differential game is a non-zero-sum, non-co-operative game. The reasons for using an open-loop formulation are twofold. First, it is plausible because the fishermen cannot directly observe the value of the state variable (fish population); second, because of the non-linearities involved, the closed-loop game would be so intractable as to be almost impossible to analyse. Our analysis provides a better explanation than the optimal control model of Cook, which is essentially a special case of the differential game, i.e. a game with one player. We show that optimum effort levels increase with the number of fishermen and come close to those observed empirically in this fishery.

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Sport and Commercial Fishing Allocations for the Atlantic Salmon Fisheries of the Miramichi River

Cook

McGaw

1996

Canadian J Agri Economics

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The Atlantic salmon has been harvested by both commercial and recreationalfishers for many years on the river systems of the province of New Brunswick on Canada 's Atlantic coast. The commercialfisheries were closed and controls were placed on the recreational fisheries following the 1983 collapse of the salmon stocks. This management policy remains in effect. A preliminary analysis using a linear control model showed this to be an economically efJicient harvest allocation policy on New Brunswick's Miramichi River. The analysis is extended to the more realistic nonlinear framework here to determine whether the harvest allocation decision would be significantly changed. Both fisheries are found to generate positive net economic beneJts, although the recreational fishery is determined to be more valuable than the commercial fishery. Permanent closure of the commercial$shery is not indicated. Le saumon de 1 'Atlantique est, depuis de nombreuses an&es, recolte autant par les pecheurs commerciaux que par les pecheurs sport@ dans les rivieres c&i&es de la province du Nouveau-Brunswick.L 'effondrement des stocks de saumons en 1983 a entraine la fermeture des pecheries commerciales et 1 'imposition de mesures de controle a la p&he sportive, mesures qui aujourd 'hui encore demeurent en vigueur. Une analyse preliminaire utilisant un modele de controle lineaire avait mis en relief 1 'e@cience economique de cette methode de regulation des prises dans la riviere Miramichi. Cette analyse est ici &endue a un cadre non lineaire plus proche de la realite, afin de determiner si cette m&ode mod$erait signtjicativement les decisions en matiere d httribution des permis. On constate que les deux types de pecherie generent des avantages economiques nets, quoique la p&he sportive semble en generer davantage. Rien ne semble justtj?er la fermeture permanente de la p&he commerciale.

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Discount Effects and Canada's PACIFIC Halibut Fishery

Cited by 4 publications

References 7 publications

Potential Economic Benefits from Efficient Harvest of New England Groundfish

Potential Economic Benefits from Efficient Harvest of New England Groundfish

A Differential Game Model of Canada′s Pacific Halibut Fishery

Sport and Commercial Fishing Allocations for the Atlantic Salmon Fisheries of the Miramichi River

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