Evaluating effort regulation in mixed fisheries: a Monte Carlo approach

This paper evaluates whether effort regulation could achieve the goal of protecting low-abundance species in mixed fisheries. We construct a two-species bio-economic model and compare the stock abundance ratio in the end of the fishing season with the ratio prior to the fishing. Fishers’ profit maxi...

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Bibliographic Details
Published in:ICES journal of marine science 2019-12, Vol.76 (7), p.2114-2124
Main Authors: Liu, Xiaozi, Heino, Mikko
Format: Article
Language:English
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Summary:This paper evaluates whether effort regulation could achieve the goal of protecting low-abundance species in mixed fisheries. We construct a two-species bio-economic model and compare the stock abundance ratio in the end of the fishing season with the ratio prior to the fishing. Fishers’ profit maximization problem is governed by three key factors: (i) the overall efficiency of catching different species (catchability), (ii) the price of different species, and (iii) their ability to catch the favoured species separately from the less-favoured species (separability). Using a Monte Carlo sampling of feasible parameters space, we show that effort regulation has good chances (87% of the cases) of maintaining the end stock ratio near equal levels (1/2< stock ratio
ISSN:1054-3139
1095-9289
DOI:10.1093/icesjms/fsz155