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- Title
B<sub>MEY</sub> as a fisheries management target.
- Authors
Grafton, Quentin R; Kompas, Tom; Che, Tuong N; Chu, Long; Hilborn, Ray
- Abstract
This paper evaluates the implications of managing fisheries to achieve a BMEY target, or a biomass level that maximizes net economic returns in the fishery, and discusses the role of private ownership and the trade-offs between economic and conservation benefits in this setting. The paper shows how a BMEY target can be used to: (i) determine relative employment and profitability measures; (ii) account for both the harvesting and processing sectors; and (iii) incorporate the interests of consumers and producers of fish. The profits-employment trade-off of adopting a BMEY target vs. a traditional BMSY target is calculated using a model and data from the Western and Central Pacific tuna fisheries (WCPTF), while a generic bioeconomic model is constructed to show numerical values of BMEY from including processing and/or retail sectors and the consumer benefits of harvesting fish. For the WCPTF, results show that the long-term gains per job lost from pursuing a BMEY target are worth several times the value of the average GDP per capita of Pacific Island Countries. The generic bioeconomic model shows that including a processing and/or retail sector, as well as measures of consumer benefit, lowers the BMEY target. However, there remains a broad range of parameter values for which BMEY is still greater than biomass at maximum sustainable yield, or BMSY. The paper also illustrates cases where BMEY > BMSY at different values of the price elasticity of demand, margins for processing and/or retail sectors and values of the discount rate.
- Subjects
FISHERY management; GROSS domestic product; EMPLOYMENT; CONSUMPTION (Economics); CONJOINT analysis; RETAIL industry; PROFITABILITY
- Publication
Fish & Fisheries, 2012, Vol 13, Issue 3, p303
- ISSN
1467-2960
- Publication type
Article
- DOI
10.1111/j.1467-2979.2011.00444.x