Open AccessGROWTH AND MEASUREMENT UNCERTAINTY IN AN UNREGULATED FISHERY
Author(s) -
JOHANNESEN ANNE B.,
SKONHOFT ANDERS
Publication year - 2009
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.1939-7445.2009.00041.x
Subject(s) - benchmark (surveying) , stock (firearms) , profit (economics) , fishery , measurement uncertainty , computer science , fish <actinopterygii> , fish stock , environmental science , econometrics , environmental resource management , economics , mathematics , statistics , microeconomics , geography , biology , archaeology , geodesy
Complete information is usually assumed in harvesting models of marine and terrestrial resources. In reality, however, complete information never exists. Fish and wildlife populations often fluctuate unpredictably in numbers, and measurement problems are frequent. In this paper, we analyze a time‐discrete fishery model that distinguishes between uncertain natural growth and measurement error and in which exploitation takes place in an unregulated manner. Depending on the parameterization of the model and at which point of time uncertainty is resolved, it is shown that expected harvest under ecological uncertainty may be below or above that of the benchmark model with no uncertainty. On the other hand, when stock measurement is uncertain, expected harvest never exceeds the benchmark level. We also demonstrate that the harvesting profit, or rent, under uncertainty may be above that of the benchmark situation of complete information. In other words, less information may be beneficial for the fishermen.