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http://dx.doi.org/10.15266/KEREA.2020.29.3.363

The Dynamic Optimal Fisheries Management for Spanish Mackerel  

Cho, Hoonseok (Department of Resource and Environmental Economics, Graduate School, Pukyong National University)
Nam, Jongoh (Division of Economics, College of Humanities and Social Sciences, Pukyong National University)
Publication Information
Environmental and Resource Economics Review / v.29, no.3, 2020 , pp. 363-388 More about this Journal
Abstract
The purposes of this study are to not only estimate optimal harvests and efforts using the surplus production methods for Spanish mackerel caught by multiple fishing gears, but provide dynamic optimal fisheries management for these gears using the current value Hamiltonian method. To achieve the above purposes this study uses several models such as Gavaris's general linear model for standardizing fishing efforts, surplus production method for estimating biological and technological coefficients, current value Hamiltonian method for estimating dynamic optimal harvest and efforts, and sensitivity analysis for diagnosing economic influences of these fisheries. As a result, this study showed that Spanish mackerel was overfished by multiple fishing gears based on surplus production method and the current value Hamiltonian method. Also, this study found that when the price and cost proportionally changed, the optimal harvest and fishing effort sensitively responded to the stock level of Spanish mackerel. Next, this study suggested that the multiple fishing gears for Spanish mackerel should reduce unnecessary costs such as operating time or inefficient fuel consumption. Finally, this study provided reasons Spanish mackerel should be included in the TAC system in a view of profit maximization based on sustainable use of the Spanish mackerel.
Keywords
Spanish Mackerel; Gavaris General Linear Model; Surplus Production Method; Current Value Hamiltonian; Optimal Harvest and Efforts;
Citations & Related Records
Times Cited By KSCI : 14  (Citation Analysis)
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