annotated bibliography of fisheries economics literature - Office of ...

particular, the depreciation rate and the ratio of unit capital costs to unit
operating costs play interesting and complex roles in determining optimal
investment levels.
Charles, Anthony T. (1983). "Optimal Fisheries Investment Under
Uncertainty." Can J. Fish. Aquat. Sci., 40:2080-2091.
A full analysis of optimal fisheries investment strategies must take
into account high levels of uncertainty in future fishery returns, as well as
irreversibility of investment in specialized, nonmalleable fishing fleets. A
stochastic optimization model is analyzed using dynamic programming to
determine optimal policy functions for both fleet investment and fish stock
management within an uncertain environment. The resulting policies are
qualitatively similar to those found in the corresponding deterministic case,
but quantitative differences can be substantial. Simulation results show that
optimal fleet capacity should be expected to fluctuate over a fairly wide
range, induced by stochastic variations in the biomass. However,d the
performance of a linear-cost risk-neutral fishery is fairly insensitive to
variations in investment and escapement policies around their optimum levels,
so that economic optimization is "forgiving" within this context. A framework
of balancing upside and downside investment risks is used here to explain the
roles of several fishery parameters in relation to optimal investment under
uncertainty. In particular, the intrinsic growth rate of the resource and the
ratio of unit capital costs to unit operating costs are found to be key
parameters in determining whether investment should be higher or lower under
uncertainty.
Charles, Anthony T. (1988). "Fishery Socioeconomics: A Survey." Land
Economics, 64(3):276-295.
This paper reviews the relevant literature on fishery socioeconomics,
addressing the questions: What contribution can multi-objective socioeconomic
analysis play in fisheries economics and in practical fisheries management?
What insights can be obtained from existing socioeconomic research? What
specific questions need to be emphasized in future research?
Charles, Anthony T. (1989). "Bio-Socio-Economic Fishery Models: Labour
Dynamics and Multi-Objective Management." Can J. Fish. Aquat.
Sci., 46:1313-1322.
Fishery systems involve complex interactions between resource stocks and
the people involved in harvesting those stocks. While the population dynamics
of fish stocks have received considerable attention in the ecological
literature, the dynamics of human communities dependent on the fishery are
equally important. Indeed, the joint dynamics of the fish stocks and the
fishermen must be taken into account in determining appropriate management
policies. A bio-socio-economic modelling approach is developed here to
incorporate these effects within a multi-objective optimization framework.
Fishery labour dynamics are determined by the decisions of individual
fishermen, with net migration into and out of the fishery (and hence the
fishing community) dependent on internal conditions, such as per capita
incomes and employment rates, as well as on the state of the external economy.
The task of fishery management is then one of balancing multiple objectives -
such as conservation, income generation, employment, and community stability -
subject to fish and fishermen dynamics. Control theory and simulation methods
are used to study the bio-socio-economic dynamics of the fishery system and
the interactions of multiple management objectives in determining the
resulting fishery equilibrium. Implications for fishery policy development
are also discussed.
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