Monster Seminar JAM - Targeting behavior, discards, and the management of a multiple-species fishery
Presenter: Dr. Quinn Weninger, Economics, Iowa State University
AbstractFishermen may choose to discard fish at sea when the mix of species that is intercepted by their gear does not match the mix of species allowed by regulation. Discarding is socially wasteful and can undermine attempts to manage, especially rebuild, the stocks of individual species. This paper develops a model of a multiple-species fishery and derives the optimal (rent maximizing) harvest policy. A key innovation of the model is the introduction of a harvesting technology that exhibits costly targeting of individual fish species, and discards. We analyze a decentralized fishery management system and identify conditions, i.e., multiple-species stock levels and harvest technologies for which discarding will occur. We then derive a second best harvest policy that incorporates and thus controls for the discarding incentive in a multiple species fishery. Important new insights for managing multiple species fisheries are obtained.
Date and Time:
May 24, 2007,
11:00 am - 12:30 pm