A state space bioeconomic model of Pacific halibut

A state space bioeconomic model of Pacific halibut

K.R. Criddle and M. Herrmann

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Researchers used a hybrid structural time series model to represent Pacific halibut (Hippoglossus stenolepis) stock and recruitment dynamics, and a system of equations to represent supply and demand relationships for halibut from Alaska and British Columbia. Model simulations explore the economic effects of changes in recruitment success, growth rate, and carrying capacity, and changes in international supplies of halibut. The authors conclude that while characteristics unique to the halibut resource and the market serve as biological and economic buffers for the halibut stock and fishery, success also depends on a governance system that does not foster a race for catch shares.

For full text see http://www3.interscience.wiley.com/cgi-bin/fulltext/120711777/PDFSTART. Natural Resource Modeling 21(1):117-147.

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