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In pursuit of maximum economic yield in an ITQ managed lobster fishery

Citation

Gardner, C and Hartmann, K and Punt, AE and Jennings, S, In pursuit of maximum economic yield in an ITQ managed lobster fishery, Fisheries Research, 161 pp. 285-292. ISSN 0165-7836 (2015) [Refereed Article]

Copyright Statement

Copyright 2014 Elsevier B.V.

DOI: doi:10.1016/j.fishres.2014.08.015

Abstract

A bioeconomic analysis of the Tasmanian rock lobster Jasus edwardsii fishery was conducted using a length- and sex-structured population dynamics model. This model was also spatially- and temporally-structured to account for differences in costs of fishing and prices as well as differences in abundance and productivity among regions within the fishery. The current total allowable commercial catch (TACC) was found to be higher than the level that would maximise economic yield, and this left the industry vulnerable to temporal changes in productivity. Alternative pathways to lower TACCs were explored, but these had less effect on economic yield than the final TACC. The TACC did not move towards MEY through normal decision-making based on biological stock assessments despite the fishery operating under individual transferable quota (ITQ) management for over a decade. This is because industry and government have struggled to accept that economic yield and asset values could increase with lower catches. Bioeconomic analysis assisted in debate on decreasing the TACC, suggesting formal economic analysis is required for effective ITQ management.

Item Details

Item Type:Refereed Article
Keywords:MEY, TAC, catch shares, bioeconomic model, Jasus edwardsii
Research Division:Agricultural and Veterinary Sciences
Research Group:Fisheries Sciences
Research Field:Fisheries Management
Objective Division:Animal Production and Animal Primary Products
Objective Group:Fisheries - Wild Caught
Objective Field:Wild Caught Rock Lobster
Author:Gardner, C (Professor Caleb Gardner)
Author:Hartmann, K (Dr Klaas Hartmann)
Author:Jennings, S (Dr Sarah Jennings)
ID Code:94808
Year Published:2015
Web of Science® Times Cited:12
Deposited By:Sustainable Marine Research Collaboration
Deposited On:2014-09-17
Last Modified:2017-11-03
Downloads:0

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