Economics of Overexploitation Revisited

  • R. Q. Grafton
    Crawford School, Australian National University, Ellery Crescent, Canberra, ACT 0200, Australia.
  • T. Kompas
    Crawford School, Australian National University, Ellery Crescent, Canberra, ACT 0200, Australia.
  • R. W. Hilborn
    Crawford School, Australian National University, Ellery Crescent, Canberra, ACT 0200, Australia.

書誌事項

公開日
2007-12-07
DOI
  • 10.1126/science.1146017
公開者
American Association for the Advancement of Science (AAAS)

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説明

<jats:p>About 25% of the world's fisheries are depleted such that their current biomass is lower than the level that would maximize the sustained yield (MSY). By using methods not previously applied in the fisheries conservation context, we show in four disparate fisheries (including the long-lived and slow-growing orange roughy) that the dynamic maximum economic yield (MEY), the biomass that produces the largest discounted economic profits from fishing, exceeds MSY. Thus, although it is theoretically possible that maximizing discounted economic profits may cause stock depletions, our results show there is a win-win: In many fisheries at reasonable discount rates and at current prices and costs, larger fish stocks increase economic profits. An MEY target that exceeds MSY and transfers from higher, future profits to compensate fishers for the transition costs of stock rebuilding would help overcome a key cause of fisheries overexploitation, industry opposition to lower harvests.</jats:p>

収録刊行物

  • Science

    Science 318 (5856), 1601-1601, 2007-12-07

    American Association for the Advancement of Science (AAAS)

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