Optimal Fisheries Management in the Presence of an Endangered Predator and Harvestable Prey

• Main Authors: Kaplan, Jonathan D, Smith, Martin D
• Format: Publication
• Language: English
• Published: International Institute of Fisheries Economics and Trade 2001
• Subjects: Bioeconomic Modeling : Conceptual and Applied Issues; Fisheries Economics; Modeling and Economic Theory

This paper analyzes optimal fishery management in the presence of an endangered predator that competes withhumans for a commercially viable prey. Because traditional predator controls are not possible when the predator isendangered, we focus on harvest effort controls over the prey’s habitat as a means to maintain the predator-prey relationshipand sustain the economic viability of the fishery. The management model is based on optimizing fishery rents subject tomaintaining a growing predator population. We derive optimal management decisions, along a singular path, with andwithout a predator constraint and demonstrate the need to consider the predator-prey relationship explicitly. In addition, wederive an expression for the shadow value of the endangered predator, along the singular path, in terms of forgone fisheryrents. To illustrate these results, we provide an application to the contentious California sea otter-urchin system and therelated urchin fishery. International Institute of Fisheries Economics and TradeU.S. National Marine Fisheries ServiceMG Kailis Group