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An Adjustment Restriction on Fish Quota: Resource Rents, Overcapacity and Recovery of Fish Stock

机译：鱼类配额的调整限制：资源租金，能力过剩和鱼类种群的恢复

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摘要

Management objectives of the European Union for North Sea fish stocks are shifting towards considering both biological sustainability and economic benefits. As part of multiannual management plans, an adjustment restriction on fish quota has been introduced. Its objective is to obtain an efficient fish stock and to reduce overcapacity for the fishing industry. We develop and apply a bi-level stochastic dynamic programming model to study the effect of a quota adjustment restriction on the net present value of resource rents, overcapacity and fish stock, when the system is recovering from a downward environmental shock. At level one, a policy maker sets the quota, considering fishermen behavior, stochastic fish stock dynamics, capital stock dynamics and a quota adjustment restriction. At level two, fishermen harvest myopically and make long-term investment decisions, assuming that fish stock and quota do not change over time. The two levels are linked by the quota, which is optimized by the policy maker at level one and becomes a restriction for myopic harvest and long-term investment decisions of fishermen at level two. Our analysis suggests that in the long run, overcapacity can be reduced by 54 % at modest costs, namely at a 1 % reduction in the net present value of resource rents. Long and short run sustainability of the fish stock is not affected.
机译：欧洲联盟北海鱼类种群的管理目标正在转向考虑生物可持续性和经济利益。作为多年期管理计划的一部分，对鱼类配额进行了调整限制。其目标是获得有效的鱼类资源，并减少渔业捕捞能力过剩。当系统正在从向下的环境冲击中恢复时，我们开发并应用双层随机动态规划模型来研究配额调整限制对资源租金，产能过剩和鱼类资源的净现值的影响。在第一级，决策者根据渔民的行为，随机鱼类种群动态，资本种群动态和配额调整限制来设定配额。在第二级，假设鱼的存量和配额不随时间变化，渔民近视捕捞并做出长期投资决定。这两个级别由配额关联，配额由一级的决策者优化，并限制了近级收获和二级渔民的长期投资决策。我们的分析表明，从长远来看，以适度的成本可以将产能过剩减少54％，即资源租金的净现值减少1％。鱼类种群的长期和短期可持续性不受影响。

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