Open AccessEMPIRICAL EVALUATION OF EXPECTED RETURNS FROM RESEARCH ON STOCK STRUCTURE FOR DETERMINATION OF TOTAL ALLOWABLE CATCH
Author(s) -
McDonald A. David,
Smith Anthony D.M.,
Punt Andre E.,
Tuck Geoffrey N.,
Davidson Adam J.
Publication year - 1997
Publication title -
natural resource modeling
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.28
H-Index - 32
eISSN - 1939-7445
pISSN - 0890-8575
DOI - 10.1111/j.1939-7445.1997.tb00208.x
Subject(s) - stock (firearms) , econometrics , bayes' theorem , fishery , stock assessment , economics , computer science , operations research , statistics , business , mathematics , bayesian probability , geography , biology , fishing , archaeology
An approach to incorporating new information using Bayes' theorem is applied to obtain estimates of expected returns from research on stock structure for determination of total allowable catch (TAC). Expected returns are measured relative to quantitative performance criteria that are inferred from fishery management objectives. Principles of the approach are outlined and a detailed case study of Tasmanian orange roughy is reported.