Implications of gain functions in fisheries management

Wang, You-Gan and Wang, Na (2012) Implications of gain functions in fisheries management. Reviews in Fisheries Science, 20 2: 103-109. doi:10.1080/10641262.2012.663421

Author Wang, You-Gan
Wang, Na
Title Implications of gain functions in fisheries management
Journal name Reviews in Fisheries Science   Check publisher's open access policy
ISSN 1064-1262
Publication date 2012-03-23
Sub-type Article (original research)
DOI 10.1080/10641262.2012.663421
Volume 20
Issue 2
Start page 103
End page 109
Total pages 7
Place of publication Philadelphia, PA, United States
Publisher Taylor & Francis
Collection year 2013
Language eng
Abstract The appealing concept of optimal harvesting is often used in fisheries to obtain new management strategies. However, optimality depends on the objective function, which often varies, reflecting the interests of different groups of people. The aim of maximum sustainable yield is to extract the greatest amount of food from replenishable resources in a sustainable way. Maximum sustainable yield may not be desirable from an economic point of view. Maximum economic yield that maximizes the profit of fishing fleets (harvesting sector) but ignores socio-economic benefits such as employment and other positive externalities. It may be more appropriate to use the maximum economic yield that which is based on the value chain of the overall fishing sector, to reflect better society's interests. How to make more efficient use of a fishery for society rather than fishing operators depends critically on the gain function parameters including multiplier effects and inclusion or exclusion of certain costs. In particular, the optimal effort level based on the overall value chain moves closer to the optimal effort for the maximum sustainable yield because of the multiplier effect. These issues are illustrated using the Australian Northern Prawn Fishery.
Keyword Economic multipliers
Fisheries management
Maximum economic yield
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: School of Mathematics and Physics
Official 2013 Collection
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