Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
985847 | Resource and Energy Economics | 2010 | 15 Pages |
Abstract
North-East Arctic cod is shared by Russia and Norway. Taking its multi-cohort structure into account, how would optimal management look like? How would non-cooperative exploitation limit the obtainable profits? To which extent could the strategic situation explain today’s over-harvesting? Simulation of a detailed bio-economic model reveals that the mesh size should be significantly increased, resulting not only in a doubling of economic gains, but also in a biologically healthier age-structure of the stock. The Nash equilibrium is close to the current regime. Even when effort is fixed to its optimal level, the non-cooperative choice of gear selectivity leads to a large dissipation of rents.
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Physical Sciences and Engineering
Energy
Energy (General)
Authors
Florian K. Diekert, Dag Ø. Hjermann, Eric Nævdal, Nils Chr. Stenseth,