Reconciling economic and biological modeling of migratory fish stocks: Optimal management of the Atlantic salmon fishery in the Baltic Sea

The paper puts forward a model of the Atlantic salmon fishery in the Baltic Sea that integrates the salient biological and economic characteristics of migratory fish stocks. Designed to be compatible with the framework used for actual stock assessments, the model accounts for age-structured populati...

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Bibliographic Details
Published in:Ecological economics 2008-02, Vol.64 (4), p.716-728
Main Authors: Kulmala, Soile, Laukkanen, Marita, Michielsens, Catherine
Format: Article
Language:English
Subjects:
Age-structured population dynamics
Atlantic salmon
Baltic Sea
Bioeconomic modeling
Biology
Economic models
Fishery planning
Integrated biological and economic modeling
Marine
Migration
Optimal resource management
Resource management
Salmo salar
Salmon
Uncertainty
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Summary:The paper puts forward a model of the Atlantic salmon fishery in the Baltic Sea that integrates the salient biological and economic characteristics of migratory fish stocks. Designed to be compatible with the framework used for actual stock assessments, the model accounts for age-structured population dynamics, the seasonal harvest and competing harvesting by commercial and recreational fishermen. It is parameterized for the Simojoki River stock. The socially optimal policy for maximizing discounted net benefits from the fishery within an uncertain environment is determined using a dynamic programming approach and numerical solution method. Our results indicate that substantial economic benefits could be realized under optimal management without compromising stock sustainability.
ISSN:0921-8009
1873-6106
DOI:10.1016/j.ecolecon.2007.08.002