This book is about the economics of multispecies harvesting of renewable resources. The aim is to provide both a theoretical and an applied analysis of multispecies fisheries. The applied part is devoted to the North Atlantic fisheries of the Barents Sea area, and special emphasis is put on the interactions between sea mammals and fish. The theoretical part of the book includes discussion and analysis of the effect on the optimal stocks from changes in the prices, costs and the discount rate. Among the new results is the possibility of an increased optimal resource stock from a rise in the discount rate. Also, a method is derived for the computation of the maximum sustainable yield frontier (MSF) in the three species case. The applied part comprises the paradoxical result of higher levels of fish stocks in the optimal regulated fisheries than under open access. The fish stocks should be even higher than they were in the pristine ecological system before man started his exploitation. This is possible because of the reduced stock of sea mammals at the optimum. The book should be of interest to economists, ecologists and other academics with an interest in resource management, and to managers of marine resources.
Series: Studies in Contemporary Economics
Number Of Pages: 162
Published: May 1988
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 24.41 x 16.99 x 0.97
Weight (kg): 0.29