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Regime Shifts and Resilience in Fisheries Management: A Case Study of the Argentinean Hake fishery
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics. Royal Swedish Acad Sci, Beijer Inst, Stockholm, Sweden.;Ningbo Univ, Sch Business, Ningbo, Zhejiang, Peoples R China..
Univ Santiago de Compostela, Dept Appl Econ, Campus Do Mar,Int Campus Excellence, La Coruna, Spain.;Univ Santiago de Compostela, Fac Polit Sci, Ave Angel Echevarry S-N, Santiago De Compostela, A Coruna, Spain..
Wageningen Univ, Environm Econ & Nat Resources Grp, Wageningen, Netherlands..
2016 (English)In: Environmental and Resource Economics, ISSN 0924-6460, E-ISSN 1573-1502, Vol. 65, no 3, 623-637 p.Article in journal (Refereed) Published
Abstract [en]

We investigate the role of potential regime shifts in Argentinean hake fishery and the inter-linkage between ecological and economic resilience. We develop a theoretical model incorporated with the hazard function for resource management under alternative conditions, and derive the corrective tax. Applying the model to the case of Argentinean hake fishery, we obtain insights for fishery management in the presence of risk for a regime shift. Based on three value functions, our model simulation indicates that the higher the relative loss from the fishery collapse, the more important the risk management would be with the resilience value taken into account. A higher level of fish stock leads to a higher optimized value and a lower corrective tax rate. When the stock level is lower, we need to introduce a higher tax rate to best avoid the fishery collapse. Decomposing the marginal value of the fish stock into a stock service value for fish production and a resilience value for flip risk reduction, we find that a higher fish stock leads to a lower tax rate because of the higher resilience of the fish stock, and hence the corrective tax rate as an instrument for managing fishery becomes less important.

Place, publisher, year, edition, pages
2016. Vol. 65, no 3, 623-637 p.
Keyword [en]
Regime shifts, Resilience, Corrective tax, Marine ecosystems, Argentinean hake fishery (Merluccius hubbsi)
National Category
Economics and Business
URN: urn:nbn:se:uu:diva-309827DOI: 10.1007/s10640-016-0038-yISI: 000387402700006OAI: oai:DiVA.org:uu-309827DiVA: diva2:1052958
Available from: 2016-12-07 Created: 2016-12-07 Last updated: 2016-12-07Bibliographically approved

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Li, Chuan-Zhong
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