About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

2 J. Mgmt. & Sustainability 3 (2012)

handle is hein.journals/jms2 and id is 1 raw text is: Recovery of the Eastern Baltic Cod Fishery: Perspectives Revealed through Bioeconomic Modelling Barbara Hutniczak Department of Environmental and Business Economics University of Southern Denmark Niels Bohrs Vej 9-10, DK-6700 Esbjerg, Denmark Tel: 45-6550-4188 E-mail: bhuttsam.sdu.dk Received: February 3, 2012 Accepted: February 14, 2012 Published: March 1, 2012 doi: 10.5539/jms.v2nlp3 URL: http://dx.doi.org/10.5539/jms.v2nlp3 Abstract The paper describes the situation of Polish cod fishery in the Baltic Sea and its perspectives in the future. The paper sets up a general model and exemplifies it by simple functional forms taking its offset in the problem of overcapacity in Polish fleet causing lack of profitability of the sector. The viable control approach is used in order to determine dynamic compatibility with defined constraints when making an intertemporal decision regarding the regulations affecting the stock of interest and the economy of the sector. The paper illustrates how the dynamic optimisation methodology can be used to determine the Optimal Economic Intertemporal Path and reveals potential benefits of following it. Keywords: Atlantic cod, Bioeconomic modelling, Viable control approach, Fleet overcapacity, Decommissioning 1. Introduction The world we are living in is becoming small. Globalization has an enormous effect on the whole population, as well as on each of us as individuals. In the global economy we eat in the middle of winter ripe banana from Ecuador, drive car using oil from the Middle East or find McDonald round every corner. Every decision and action is affecting the global market through its cumulative influence. Further, with constantly growing world population, the demand for goods and products is increasing. And in order to meet this demand, the more and more resources are required. Some of those are renewable resources. Each year the agriculture is producing new crop, forests can be replanted and grow more wood, fish will reproduce to increase the stock base for fishery sector. Those can be maintained in infinite time, but only under a proper management scheme. Fish stock, if fished every year more than its growth rate, will be decreasing. It may even decrease to the point, when its recovery is not possible any more. Thus, the serious question arises: what can be done considering effective resource management to prevent catastrophic consequences of overusing renewable resources? How is it possible to avoid the 'tragedy of commons'? The paper focuses on the condition of the Baltic Sea Eastern cod stock. Cod, as the most valuable fish in the Baltic Sea, is the base fishing stock for a large number of fishermen in the region. However, apart from its economic aspect, it is also an important link in the Baltic Sea food web. As a top predator, cod is performing an important structuring role in the ecosystem ensuring its stability. Therefore, the proper management regime securing the right abundance of the stock is of particular interest. For that reason, the new insight into the case is performed through applying the bioeconomic modelling methodology. The aim is to obtain the model explaining the possibility to reach optimal economic path maximising the revenues from the fishery while not putting the specie into risk of extinction considering its biological parameters. The paper is structured as follows. The introduction is followed by section which gives the insight into the case studied, providing the explanation of further used model parameters which have a significant impact on designing a sufficient management plan. Section three contains the model developed with objective to estimate economically optimal biomass level and fleet size using viable control approach and dynamic optimization Published by Canadian Center of Science and Education www.ccsenet.org/ims Journal of Management and Sustainability Vol. 2, No. 1; March 2012

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most