Implications of gain functions in fisheries management

Wang, You-Gan & Wang, Na (2012) Implications of gain functions in fisheries management. Reviews in Fisheries Science, 20(2), pp. 103-109.

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Abstract

The appealing concept of optimal harvesting is often used in fisheries to obtain new management strategies. However, optimality depends on the objective function, which often varies, reflecting the interests of different groups of people. The aim of maximum sustainable yield is to extract the greatest amount of food from replenishable resources in a sustainable way. Maximum sustainable yield may not be desirable from an economic point of view. Maximum economic yield that maximizes the profit of fishing fleets (harvesting sector) but ignores socio-economic benefits such as employment and other positive externalities. It may be more appropriate to use the maximum economic yield that which is based on the value chain of the overall fishing sector, to reflect better society's interests. How to make more efficient use of a fishery for society rather than fishing operators depends critically on the gain function parameters including multiplier effects and inclusion or exclusion of certain costs. In particular, the optimal effort level based on the overall value chain moves closer to the optimal effort for the maximum sustainable yield because of the multiplier effect. These issues are illustrated using the Australian Northern Prawn Fishery.

Impact and interest:

4 citations in Scopus
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5 citations in Web of Science®

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ID Code: 90432
Item Type: Journal Article
Refereed: Yes
Keywords: Economic multipliers, fisheries management, maximum economic yield, maximum sustainable yield, value chain, northern-prawn-fishery, maximum economic yield, tiger prawns, australia, impact, size
DOI: 10.1080/10641262.2012.663421
ISSN: 1064-1262
Divisions: Current > Schools > School of Mathematical Sciences
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Deposited On: 17 Nov 2015 23:33
Last Modified: 19 Nov 2015 23:11

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