Northwest Fisheries Science Center

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Document Type: Journal Article
Center: NWFSC
Document ID: 8551
Title: Evaluating the benefits and risks of species transformation provisions in multi-species IFQ fisheries with joint production
Author: Pamela Woods, Daniel S. Holland, A. E. Punt
Publication Year: 2016
Journal: ICES Journal of Marine Science
Volume: 73
Issue: 7
Pages: 1764-1773
DOI: DOI: 10.1093/icesjms/fsw031
Keywords: ITQ,catch share,Iceland,catch balancing
Abstract:

Species transformation provisions used in fisheries management systems allow fishers to convert quota of one species to that of another species at prescribed conversion rates. These provisions, alongside other catch-quota balancing mechanisms, are meant to aid fishers in matching available quota to actual catch so that incentives to discard are reduced. Here we use a bioeconomic model to examine how species transformation provisions affect sustainability and profitability of a multi-species fishery, given that fishers have a short-term view to maximize their profit within each fishing year. We base parameterization of the model loosely on management of the Icelandic demersal fishery, which currently employs one of the broadest implementations of species transformations. To represent fisher behavior in each year, effort is allocated among two or three métiers, such that total profit for that year is maximized. Each métier represents a combination of three species catchability rates that define which species are targeted by each métier and how independent a species’ catch rate is from that of other species. Assumptions regarding how constrained the fishery is to fish several species simultaneously, versus target species individually, is paramount to understanding more generally how any fishing regulations, such as species transformations. can be expected to change fishing patterns. This constraint depends not only on how correlated species catchabilities are within a métier, but also on relative species abundances and what alternate métiers are available. The potential for increased or decreased profit due to species transformations was also analyzed, as well as the potential for profit to be increased through an increased responsiveness of fishing to economic conditions when there is uncertainty or error in setting the total allowable catches or species conversion rates. 

Description:

Model-based evaluation of species transformation provisions in Icelands ITQ systems.

Theme: Ecosystem approach to improve management of marine resources
Foci: Provide scientific support for the implementation of ecosystem-based management
Official Citation:

Woods, P.J., D.S. Holland, A.E. Punt 2016. Evaluating the benefits and risks of species-transformation provisions in multispecies IFQ fisheries with joint production. Forthcoming in ICES Journal of Marine Science 73(7):1764-1773. DOI: 10.1093/icesjms/fsw031