Economics of Overexploitation Revisited

About 25% of the world's fisheries are depleted such that their current biomass is lower than the level that would maximize the sustained yield (MSY). By using methods not previously applied in the fisheries conservation context, we show in four disparate fisheries (including the long-lived and...

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Published in:Science (American Association for the Advancement of Science) 2007-12, Vol.318 (5856), p.1601-1601
Main Authors: Grafton, R.Q, Kompas, T, Hilborn, R.W
Format: Article
Language:English
Subjects:
Animal, plant and microbial ecology
Animals
Applied ecology
Biological and medical sciences
Biomass
Brevia
Commercial extinction
Economic costs
Economic profit
Economics
Energy crops
Exploitation and management of natural biological resources (hunting, fishing and exploited populations survey, etc.)
Fisheries
Fisheries - economics
Fisheries science
Fishery economics
Fishes
Fundamental and applied biological sciences. Psychology
Ocean fisheries
Overharvesting
Population Dynamics
Tuna
Yield
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cited_by cdi_FETCH-LOGICAL-c523t-b672c546eab02e70c2e0ebfe4492c3b6c2496f6ea79d3c837de0eadb53df04c33
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description About 25% of the world's fisheries are depleted such that their current biomass is lower than the level that would maximize the sustained yield (MSY). By using methods not previously applied in the fisheries conservation context, we show in four disparate fisheries (including the long-lived and slow-growing orange roughy) that the dynamic maximum economic yield (MEY), the biomass that produces the largest discounted economic profits from fishing, exceeds MSY. Thus, although it is theoretically possible that maximizing discounted economic profits may cause stock depletions, our results show there is a win-win: In many fisheries at reasonable discount rates and at current prices and costs, larger fish stocks increase economic profits. An MEY target that exceeds MSY and transfers from higher, future profits to compensate fishers for the transition costs of stock rebuilding would help overcome a key cause of fisheries overexploitation, industry opposition to lower harvests.
doi_str_mv 10.1126/science.1146017
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source Alma/SFX Local Collection; Science Online科学在线
subjects Animal, plant and microbial ecology
Animals
Applied ecology
Biological and medical sciences
Biomass
Brevia
Commercial extinction
Economic costs
Economic profit
Economics
Energy crops
Exploitation and management of natural biological resources (hunting, fishing and exploited populations survey, etc.)
Fisheries
Fisheries - economics
Fisheries science
Fishery economics
Fishes
Fundamental and applied biological sciences. Psychology
Ocean fisheries
Overharvesting
Population Dynamics
Tuna
Yield
title Economics of Overexploitation Revisited
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