[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/ags/aareaj/333842.html
   My bibliography  Save this article

Profit and equity trade-offs in the management of small pelagic fisheries: the case of the Japanese sardine fishery

Author

Listed:
  • Jang, Ho Geun
  • Yamazaki, Satoshi
  • Hoshino, Eriko
Abstract
The management of small pelagic fisheries is difficult due to environmental regime changes that generate multi-decadal cyclic fluctuations in stock abundance. Lagged management responses to environmental factors can amplify the effects of fishing and may even result in stock collapse. In this paper, we develop an age-structured bioeconomic model to explore the effectiveness of alternative management approaches for cyclically fluctuating small pelagic fish stocks. The fishery outcomes are evaluated against the overall profit of the fishery and the intertemporal distribution of fishing profits. The model is parameterised for the Japanese sardine fishery, once the largest fishery in Japan, which has experienced a prolonged period of stock collapse over the last 100 years. The results show that the duration of fishery collapse is mostly determined by the extent of cyclic fluctuations in the recruitment of immature sardines, but the effects of the fluctuations on the fishery are heightened by the cumulative impact of fishing. We further show that restricting fishing reduces the fishery’s overall profits, but smooths the intertemporal distribution of profits, resulting in greater intergenerational equity. This income smoothing effect is particularly pronounced when the stock exhibits high levels of cyclic fluctuations.

Suggested Citation

  • Jang, Ho Geun & Yamazaki, Satoshi & Hoshino, Eriko, 2019. "Profit and equity trade-offs in the management of small pelagic fisheries: the case of the Japanese sardine fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(3), July.
    • Handle: RePEc:ags:aareaj:333842
    DOI: 10.22004/ag.econ.333842
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/333842/files/ajar12317.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.333842?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. R. Quentin Grafton & Leif K. Sandal & Stein Ivar Steinshamn, 2000. "How to Improve the Management of Renewable Resources: The Case of Canada's Northern Cod Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 570-580.
    2. Reed, William J., 1979. "Optimal escapement levels in stochastic and deterministic harvesting models," Journal of Environmental Economics and Management, Elsevier, vol. 6(4), pages 350-363, December.
    3. Polasky, Stephen & de Zeeuw, Aart & Wagener, Florian, 2011. "Optimal management with potential regime shifts," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 229-240, September.
    4. Weitzman, Martin L., 2002. "Landing Fees vs Harvest Quotas with Uncertain Fish Stocks," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 325-338, March.
    5. R. Quentin Grafton & Ragnar Arnason & Trond Bjorndal & David Campbell & Harry F. Campbell & Colin W. Clark & Robin Connor & Diane P. Dupont & Rognvaldur Hannesson & Ray Hilborn & James E. Kirkley & To, 2005. "Incentive-based approaches to sustainable fisheries," Economics and Environment Network Working Papers 0508, Australian National University, Economics and Environment Network.
    6. Michiyuki Yagi & Shunsuke Managi, 2011. "Catch limits, capacity utilization and cost reduction in Japanese fishery management," Agricultural Economics, International Association of Agricultural Economists, vol. 42(5), pages 577-592, September.
    7. Richard Carson & Clive Granger & Jeremy Jackson & Wolfram Schlenker, 2009. "Fisheries Management Under Cyclical Population Dynamics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(3), pages 379-410, March.
    8. Sethi, Gautam & Costello, Christopher & Fisher, Anthony & Hanemann, Michael & Karp, Larry, 2005. "Fishery management under multiple uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 50(2), pages 300-318, September.
    9. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
    10. Rögnvaldur Hannesson & Kjell G. Salvanes & Dale Squires, 2010. "Technological Change and the Tragedy of the Commons: The Lofoten Fishery over 130 Years," Land Economics, University of Wisconsin Press, vol. 86(4), pages 746-765.
    11. Clark, Colin W. & Kirkwood, Geoffrey P., 1986. "On uncertain renewable resource stocks: Optimal harvest policies and the value of stock surveys," Journal of Environmental Economics and Management, Elsevier, vol. 13(3), pages 235-244, September.
    12. Kim, Suam, 2010. "Fisheries development in northeastern Asia in conjunction with changes in climate and social systems," Marine Policy, Elsevier, vol. 34(4), pages 803-809, July.
    13. Costello, Christopher & Polasky, Stephen, 2008. "Optimal harvesting of stochastic spatial resources," Journal of Environmental Economics and Management, Elsevier, vol. 56(1), pages 1-18, July.
    14. Makino, Mitsutaku & Matsuda, Hiroyuki, 2005. "Co-management in Japanese coastal fisheries: institutional features and transaction costs," Marine Policy, Elsevier, vol. 29(5), pages 441-450, September.
    15. U. Sumaila & Ahmed Khan & Andrew Dyck & Reg Watson & Gordon Munro & Peter Tydemers & Daniel Pauly, 2010. "A bottom-up re-estimation of global fisheries subsidies," Journal of Bioeconomics, Springer, vol. 12(3), pages 201-225, October.
    16. Clark, Colin W & Clarke, Frank H & Munro, Gordon R, 1979. "The Optimal Exploitation of Renewable Resource Stocks: Problems of Irreversible Investment," Econometrica, Econometric Society, vol. 47(1), pages 25-47, January.
    17. George Deltas, 2003. "The Small-Sample Bias of the Gini Coefficient: Results and Implications for Empirical Research," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 226-234, February.
    18. Dale Squires & Niels Vestergaard, 2013. "Technical Change and The Commons," The Review of Economics and Statistics, MIT Press, vol. 95(5), pages 1769-1787, December.
    19. Whitmarsh, David, 1990. "Technological change and marine fisheries development," Marine Policy, Elsevier, vol. 14(1), pages 15-22, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kiyama, Shoichi & Yamazaki, Satoshi, 2022. "Product switching and efficiency in a declining small-scale fishery," Ecological Economics, Elsevier, vol. 193(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jules Selles, 2018. "Fisheries management: what uncertainties matter?," Working Papers hal-01824238, HAL.
    2. Costello, Christopher & Quérou, Nicolas & Tomini, Agnes, 2015. "Partial enclosure of the commons," Journal of Public Economics, Elsevier, vol. 121(C), pages 69-78.
    3. McGough Bruce & Plantinga Andrew J. & Costello Christopher, 2009. "Optimally Managing a Stochastic Renewable Resource under General Economic Conditions," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(1), pages 1-31, December.
    4. Nkuiya, Bruno & Diekert, Florian, 2023. "Stochastic growth and regime shift risk in renewable resource management," Ecological Economics, Elsevier, vol. 208(C).
    5. Ute Kapaun & Martin Quaas, 2013. "Does the Optimal Size of a Fish Stock Increase with Environmental Uncertainties?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(2), pages 293-310, February.
    6. Kelsall, Claudia & Quaas, Martin F. & Quérou, Nicolas, 2023. "Risk aversion in renewable resource harvesting," Journal of Environmental Economics and Management, Elsevier, vol. 121(C).
    7. Bediako, Kwabena & Nkuiya, Bruno, 2022. "Stability of international fisheries agreements under stock growth uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 113(C).
    8. Jacob LaRiviere & David Kling & James N Sanchirico & Charles Sims & Michael Springborn, 2018. "The Treatment of Uncertainty and Learning in the Economics of Natural Resource and Environmental Management," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 12(1), pages 92-112.
    9. Tsur, Yacov & Zemel, Amos, 2012. "Dynamic and stochastic analysis of environmental and natural resources," Discussion Papers 120017, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
    10. Baggio, Michele & Fackler, Paul L., 2016. "Optimal management with reversible regime shifts," Journal of Economic Behavior & Organization, Elsevier, vol. 132(PB), pages 124-136.
    11. Singh, Rajesh & Weninger, Quinn & Doyle, Matthew, 2006. "Fisheries management with stock growth uncertainty and costly capital adjustment," Journal of Environmental Economics and Management, Elsevier, vol. 52(2), pages 582-599, September.
    12. Hansen, Lars Gårn & Jensen, Frank, 2017. "Regulating fisheries under uncertainty," Resource and Energy Economics, Elsevier, vol. 50(C), pages 164-177.
    13. Sareh Vosooghi, 2019. "Panic-Based Overfishing in Transboundary Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(4), pages 1287-1313, August.
    14. Eric Nævdal, 2022. "Productivity and Management of Renewable Resources: Why More Efficient Fishing Fleets Should Fish Less," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(3), pages 409-424, March.
    15. Quérou, Nicolas & Tomini, Agnes & Costello, Christopher, 2022. "Limited‐tenure concessions for collective goods," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    16. Poudel, Diwakar & Sandal, Leif K. & Steinshamn, Stein I. & Kvamsdal, Sturla F., 2012. "Do Species Interactions and Stochasticity Matter to Optimal Management of Multispecies Fisheries?," Discussion Papers 2012/1, Norwegian School of Economics, Department of Business and Management Science.
    17. Vincent Martinet & Michel de Lara & Julio Peña-Torres & Héctor Ramírez Cabrera, 2012. "Risk and Sustainability: Assessing Fisheries Management Strategies," Working Papers hal-04141121, HAL.
    18. do Val, J.B.R. & Guillotreau, P. & Vallée, T., 2019. "Fishery management under poorly known dynamics," European Journal of Operational Research, Elsevier, vol. 279(1), pages 242-257.
    19. José Da Rocha & María Gutiérrez, 2012. "Endogenous Fishery Management in a Stochastic Model: Why Do Fishery Agencies Use TACs Along with Fishing Periods?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 53(1), pages 25-59, September.
    20. Christopher Costello & Bruno Nkuiya & Nicolas Querou, 2017. "Extracting spatial resources under possible regime shift," Working Papers 17-07, LAMETA, Universtiy of Montpellier.

    More about this item

    Keywords

    Livestock Production/Industries;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aareaj:333842. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.