Premium
A Conceptional Analysis of Dynamics and Production in Bioeconomic Models
Author(s) -
Steinshamn Stein Ivar
Publication year - 2011
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.1093/ajae/aar007
Subject(s) - generalization , fishing , fish stock , stock (firearms) , econometrics , computer science , economics , mathematical economics , production (economics) , fishery , mathematical optimization , mathematics , microeconomics , geography , biology , mathematical analysis , archaeology
Harvesting functions and stock dynamic equations in age‐structured bioeconomic models are generalized in order to incorporate density dependence. Using this generalization, anything from completely uniformly distributed fish to extreme schooling can be analyzed. The classical Beverton–Holt model comes out as a special case of the generalized model. The generalization can be applied both for simulation as well as for optimization purposes given appropriate software. Conceptual analysis indicates that pulse fishing seems to become less and less economically profitable as we move from uniformly distributed fish to schooling species. This has important implications for how fish stocks ought to be managed.