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Risk versus economic performance in a mixed fishery
Citation
Gourguet, S and Thebaud, O and Dichmont, C and Jennings, SM and Little, LR and Pascoe, S and Deng, RA and Doyen, L, Risk versus economic performance in a mixed fishery, Ecological Economics, 99 pp. 110-120. ISSN 1873-6106 (2014) [Refereed Article]
Copyright Statement
Copyright 2014 Elsevier B.V. All rights reserved
DOI: doi:10.1016/j.ecolecon.2014.01.013
Abstract
Balancing bio-economic risks and high profit expectations is often a major concern in fisheries management. We examine this trade-off in the context of the Australian Northern Prawn Fishery (NPF). The fishery derives its revenue from different prawn species with different dynamics and recruitment processes. A multi-species bio-economic and stochastic model is used to examine the trade-offs between mean profitability of the fishery and its variance, under a range of economic scenarios, fishing capacities and distributions of fishing effort across the various sub-fisheries that comprise the NPF. Simulation results show that the current fishing strategy diversifying catch across sub-components of the fishery entails a compromise between expected performance and risk. Furthermore, given the current economic conditions, increases in fleet size would improve the expected economic performance of the fishery, but at the cost of increased variability of this performance.
Item Details
Item Type: | Refereed Article |
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Keywords: | Bio-economic modelling; Uncertainty; Risk-performance trade-offs,Fishing strategy, Northern Prawn Fishery |
Research Division: | Agricultural, Veterinary and Food Sciences |
Research Group: | Fisheries sciences |
Research Field: | Fisheries management |
Objective Division: | Animal Production and Animal Primary Products |
Objective Group: | Fisheries - aquaculture |
Objective Field: | Fisheries - aquaculture not elsewhere classified |
UTAS Author: | Jennings, SM (Dr Sarah Jennings) |
ID Code: | 91601 |
Year Published: | 2014 |
Web of Science® Times Cited: | 20 |
Deposited By: | TSBE |
Deposited On: | 2014-05-22 |
Last Modified: | 2017-11-04 |
Downloads: | 0 |
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