Short-lived fisheries stocks are subject to large fluctuations in abundance and respond rapidly to many factors including changes in oceanographic conditions, biological interactions and fishery exploitation.Management of such species requires a flexible, adaptive framework that responds rapidly to a changing environment, although such schemes are rarely operationalized. In this article, we develop a set of bioeconomic adaptive management schemes that respond to changes in economic conditions, stock abundance and catchability, using as case studies the fisheries targeting short-lived Japanese common squid (Todarodes pacificus) and Pacific saury (Cololabis saira). We suggest that such adaptive schemes have the potential to support the successful implementation of profit maximizing (MEY-based) harvest policies for borderline profitable fisheries targeting short-lived species.

Item Type:	Refereed Article
Keywords:	bioeconomic modelling, adaptive management, MSE, management procedure, MEY, short-lived species, Pacific saury, Japanese common squid
Research Division:	Economics
Research Group:	Applied economics
Research Field:	Environment and resource economics
Objective Division:	Economic Framework
Objective Group:	Management and productivity
Objective Field:	Management and productivity not elsewhere classified
UTAS Author:	Hoshino, E (Dr Eriko Hoshino)
ID Code:	80464
Year Published:	2012
Web of Science® Times Cited:	9
Deposited By:	Economics and Finance
Deposited On:	2012-11-01
Last Modified:	2017-11-27
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