{"title":"Optimal fisheries management and the response to price changes","authors":"Eric Nævdal","doi":"10.1016/j.reseneeco.2024.101461","DOIUrl":null,"url":null,"abstract":"<div><p>The literature on how price changes affect optimally managed fisheries is mostly concerned with how fish stocks and harvest rates are affected in steady state. There is little published on how prices affect optimal harvest rates at stock levels outside of steady state. Here we show the effect of an unanticipated and permanent price increase. It is shown that in a model of a pure schooling fishery, if the stock is below the steady state, it is optimal to harvest less if the price goes up and vice versa. It is also shown that in a model with stock dependent harvest costs, the optimal response to a price increase is to reduce the harvest rate for low stock levels even if the optimal harvest rate increases close to the steady state. Empirical relevance is demonstrated by illustrating the theoretical results in an estimated model.</p></div>","PeriodicalId":47952,"journal":{"name":"Resource and Energy Economics","volume":"79 ","pages":"Article 101461"},"PeriodicalIF":2.6000,"publicationDate":"2024-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S092876552400037X/pdfft?md5=7b2e10df89e97e975890da9ba05cc774&pid=1-s2.0-S092876552400037X-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Resource and Energy Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S092876552400037X","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
The literature on how price changes affect optimally managed fisheries is mostly concerned with how fish stocks and harvest rates are affected in steady state. There is little published on how prices affect optimal harvest rates at stock levels outside of steady state. Here we show the effect of an unanticipated and permanent price increase. It is shown that in a model of a pure schooling fishery, if the stock is below the steady state, it is optimal to harvest less if the price goes up and vice versa. It is also shown that in a model with stock dependent harvest costs, the optimal response to a price increase is to reduce the harvest rate for low stock levels even if the optimal harvest rate increases close to the steady state. Empirical relevance is demonstrated by illustrating the theoretical results in an estimated model.
期刊介绍:
Resource and Energy Economics provides a forum for high level economic analysis of utilization and development of the earth natural resources. The subject matter encompasses questions of optimal production and consumption affecting energy, minerals, land, air and water, and includes analysis of firm and industry behavior, environmental issues and public policies. Implications for both developed and developing countries are of concern. The journal publishes high quality papers for an international audience. Innovative energy, resource and environmental analyses, including theoretical models and empirical studies are appropriate for publication in Resource and Energy Economics.