Optimization of Age-Structured Bioeconomic Model: Recruitment, Weight Gain and Environmental Effects

26 Pages Posted: 5 Sep 2019

See all articles by Yuanming Ni

Yuanming Ni

Norwegian School of Economics (NHH) - Department of Business and Management Science

Date Written: September 3, 2019

Abstract

More and more fishery researchers begin to acknowledge that one-dimensional biomass models may omit key information when generating management guidelines. For the more complicated age-structured models, numerous parameters require a proper estimation or a reasonable assumption. In this paper, the effects of recruitment patterns and environmental impacts on the optimal exploitation of a fish population are investigated. Based on a discrete-time age-structured bioeconomic model of Northeast Atlantic mackerel, we introduce the mechanisms that generate 6 scenarios of the problem. Using the simplest scenario, optimizations are conducted under 8 different parameter combinations. Then, the problem is solved for each scenario and simulations are conducted with constant fishing mortalities. It is found that a higher environmental volatility leads to more net profits but with a lower probability of achieving the mean values. Any parameter combination that favours the older fish tends to lend itself to pulse fishing pattern. The simulations indicate that a constant fishing mortality around 0.06 performs the best. A comparison between the optimal and the historical harvest shows that for more than 70% of the time, the optimal exploitation precedes the historical one, leading to 43% higher net profit and 34% lower fishing cost.

Keywords: age-structured, bioeconomic, recruitment, optimization

JEL Classification: C44, C61, Q00, Q20, Q22, Q50

Suggested Citation

Ni, Yuanming, Optimization of Age-Structured Bioeconomic Model: Recruitment, Weight Gain and Environmental Effects (September 3, 2019). NHH Dept. of Business and Management Science Discussion Paper No. 2019/4. Available at SSRN: https://ssrn.com/abstract=3447873 or http://dx.doi.org/10.2139/ssrn.3447873

Yuanming Ni (Contact Author)

Norwegian School of Economics (NHH) - Department of Business and Management Science ( email )

Helleveien 30
Bergen, NO-5045
Norway

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