In this paper, a discrete time, multi-gear and age structured bio-economic model is developed for the Northern Atlantic Bluefin Tuna, which is a paradigmatic example of the difficulties faced in managing highly migratory fish stocks. The 1995 U.N. Fish Stocks Agreement provides guidance as to...

In this paper, a discrete time, multi-gear and age structured bio-economic model is developed for the Northern Atlantic Bluefin Tuna, which is a paradigmatic example of the difficulties faced in managing highly migratory fish stocks. The 1995 U.N. Fish Stocks Agreement provides guidance as to...

This paper examines how to harvest a biomass exposed to a potential collapse at an uncertain date. A specific recovery effect is identified which may be positive or negative. In general, the effect on the optimal biomass is indeterminate and depends upon the failure rate, the expected collapse,...

Traditional fisheries management schemes generate incentives for vessels to maximize catch, resulting in rent dissipation and overcapacity. Individual vessel quota management schemes change the incentives to maximize profit and have the potential to generate resource rent and reduce capacity. An...

In this paper, a discrete time, multi-gear and age structured bio-economic model is developed for the Northern Atlantic Bluefin Tuna, which is a paradigmatic example of the difficulties faced in managing highly migratory fish stocks. The 1995 U.N. Fish Stocks Agreement provides guidance as to...

In this paper, we estimate a multi-output distance function for two North Sea fleet segments and derive output elasticities of substitution to examine the potential for changing catch composition though targeting fishing activity. We find that this ability differs between fleet segments, and...

In most multi-species fisheries managed through output controls, total allowable catches (TACs) are set primarily on the basis of biological considerations, usually on a species by species basis. An implicit assumption of management is that fishers are able to adjust their product mix in line...