Fisheries Session 8b: Readings and Videos are included in this slide deck Learning objectives

Fisheries

Session 8b: Readings and Videos are included in this slide deck

Learning objectives

At the completion of the module the student should be able to

• Define and explain the differences among the open resource equilibrium, maximum sustainable yield (MSY), and maximum economic yield (MEY) and their outcomes
• Evaluate the advantages and disadvantages of the following regulatory mechanisms to limit catch
• subsidies & taxes
• individual transferable quotas
• protected areas and territorial rights
• Evaluate the economic and sustainability implications of fishing and aquaculture methods for Atlantic Bluefin Tuna

Assignment: Conservation Strategy Fund Fisheries Economics Videos

Watch Conservation Strategies Fund videos on fisheries economics and policy. This sequence of videos presents all of the key science and economic applications. About 60 minutes in total.

Fisheries Economics & Policy - CSF Playlist

Fisheries: Open Access Problem

The private benefit of catching one more fish today is greater than the private cost of having one less fish reproducing.

• The opportunity cost of catching one fish is shared among all fishers who would benefit from the small increase in fish stocks. Like an external cost.
• If we each catch on extra fish, the sum of the external costs is high.
• There is a free-rider problem working together to reduce fishing.
• The problem is property rights. Fish have no asset value in open access system.
• Fish move across legal jurisdictions, need international agreements.

Maximum YieldS, MEY, MSY

Source
https://sustainablefisheries-uw.org/seafood-101/fishery-management/

Fisheries: Freshwater & Ocean

Methods available to reduce the catch to efficient levels

Price based mechanisms

• If we tax the catch, we are driving up costs and reducing incomes
• If we limit the catch and subsidize fishermen we ill create adverse incentives

Setting property rights

• Marine Protected Area
• direct limitations on access, temporary or permanent, partial use
• Successfully adds biomass for the protected area and nearby areas.
• Transferable Quotas (single species)
• Territorial Use Rights (ecosystem rights)

Case Study: Atlantic BLUEFIN TUNA

Atlantic Bluefin Tuna are one of the most important species of fish. Their popularity makes them subject to overfishing for a variety of reasons.

• Range is split between reproduction in the Mediterranean and feeding range in Western Atlantic.
• Mediterranean and Western Atlantic fishing regulations vary dramatically
• Slides that follow describe the trend in capture.
• Aquaculture is increasing and may relieve pressure on the wild stock.
• The Japanese market for tuna is extremely profitable.

Case Study: Atlantic BLUEFIN TUNA

Atlantic Bluefin Tuna are one of the most important species of fish. Their popularity makes them subject to overfishing for a variety of reasons.

• Range is split between reproduction in the Mediterranean and feeding range in Western Atlantic.
• Mediterranean and Western Atlantic fishing regulations vary dramatically
• Slides that follow describe the trend in capture.
• Aquaculture is increasing and may relieve pressure on the wild stock.
• The Japanese market for tuna is extremely profitable.
• Bluefin is extremely valuable: A fish in Japan just sold for a record $3 million — here's why bluefin tuna is so expensive (6:40)

Atlantic Bluefin Capture (FAO)

Atlantic Bluefin Aquaculture (FAO)

Unsustainable Practices: The mediterranean

Open Access + Fishing Technology = Disaster

Mediterranean, the 10 kg size limit is often ignored.

Scale Model Purse Seine Test 0:55

Looting the Seas: A Primer in Bluefin Tuna Purse Seining 1:20

Bluefin Tuna Cage Transfer 1:42

Greenpeace action on tuna cages JUNE 13TH 2:01

Mediterranean Fishing Methods size limit: 10 kg

Sustainable practices: The U.S.A. Wicked Tuna : National Geographic

Read then watch the three sustainability videos.

• Atlantic Bluefin Tuna - Nat Geo (2 minute read)
• Sustainability: Bluefin Bait - Wicked Tuna 2:06
• Sustainability Bluefin Quotas - Wicked Tuna 2:29
• Sustainability: Bluefin Regulations - Wicked Tuna 2:05

The rest are optional

• Bluefin Expert: Carl Safina 4:59
• Bluefin Expert: Victor Restrepo 5:17
• Catch of the Week - Nine Foot Monster | Wicked Tuna: Outer Banks (2:47)

Bluefin Tuna faRMING

• Equimarginal solution:
• Marginal gain is value of fish = interest + marginal cost of caring for fish
• Externalities associated with fish farming.
• Fish farming is likely to create externalities that can be handled locally.
• Breeding Southern Bluefin Tuna | Australia with Simon Reeve | BBC 2014, 4:03
• The Farming of Bluefin Tuna | Foodbeast Doc 2019, 11:43