Environmental and Resource Economics

, Volume 51, Issue 4, pp 525–544

Optimal Harvest in an Age Structured Model with Different Fishing Selectivity

Authors

    • Department of EconomicsNorwegian University of Science and Technology (NTNU)
  • Niels Vestergaard
    • Department of Environmental and Business EconomicsUniversity of Southern Denmark
  • Martin Quaas
    • Department of EconomicsUniversity of Kiel
Article

DOI: 10.1007/s10640-011-9510-x

Cite this article as:
Skonhoft, A., Vestergaard, N. & Quaas, M. Environ Resource Econ (2012) 51: 525. doi:10.1007/s10640-011-9510-x

Abstract

An age structured model of a fishery is studied where two fishing fleets, or fishing agents, are targeting two different mature age classes of the fish stock. The agents are using different fishing gear with different fishing selectivity. The model includes young and old mature fish that can be harvested, in addition to an age class of immature fish. The paper describes the optimal harvesting policy under different assumptions on the objectives of the social planner and on fishing selectivity. First, biomass yield is maximized under perfect fishing selectivity, second, equilibrium profit (rent) is maximized under perfect fishing selectivity, and third, equilibrium profit is maximized under imperfect fishing selectivity. The paper provides results that differ significantly from the standard lumped parameter (also surplus production, or biomass) model.

Keywords

Fishery economicsAge modelOptimal exploitationSelectivity

JEL Classification

Q22Q58

Copyright information

© Springer Science+Business Media B.V. 2011