Towards the Optimal Management of the Northeast Arctic Cod Fishery

49 Pages Posted: 17 Jun 2011  

Andries Richter

University of Oslo

Anne Maria Eikeset

University of Oslo

Daan van Soest

Tilburg University - CentER & Department of Economics

Nils Chr. Stenseth

University of Oslo

Date Written: 2011

Abstract

The objectives pursued by governments managing fisheries may include maximizing profits, minimizing the impact on the marine ecosystem, or securing employment, which all require adjusting the composition of the fishing fleet. We develop a management plan that can be adapted to those objectives and allows the regulator to compare the long-run profits between the various management options. We apply the model to the case of Northeast Arctic cod, and estimate the cost and harvesting functions of various vessel types, the demand function, and a biological model to provide key insights regarding the optimal management of this valuable fish species.

Keywords: Northeast Arctic Cod, Norway, Production Functions, Harvest Control Rule, Fleet Structure, Multiple Objectives

JEL Classification: C10, Q21, Q22, Q28

Suggested Citation

Richter, Andries and Eikeset, Anne Maria and van Soest, Daan and Stenseth, Nils Chr., Towards the Optimal Management of the Northeast Arctic Cod Fishery (2011). FEEM Working Paper No. 40.2011. Available at SSRN: https://ssrn.com/abstract=1865806 or http://dx.doi.org/10.2139/ssrn.1865806

Andries Richter (Contact Author)

University of Oslo ( email )

PO Box 6706 St Olavs plass
Oslo, N-0317
Norway

Anne Maria Eikeset

University of Oslo ( email )

PO Box 6706 St Olavs plass
Oslo, N-0317
Norway

Daan P. Van Soest

Tilburg University - CentER & Department of Economics ( email )

P.O. Box 90153
5000 LE Tilburg
Netherlands
+31 13 466 2072 (Phone)

Nils Chr. Stenseth

University of Oslo ( email )

PO Box 6706 St Olavs plass
Oslo, N-0317
Norway

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