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Fisheries and aquaculture economics

Language:  English
This book discusses the economic and biological forces and consequences of wild fish harvesting, for both open access and sustainable management.
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Many marine fish resources are overexploited and the total world production of wild caught fish has declined a little since the peak in the mid-1990s. Aquaculture production has now surpassed wild catch and is still rising. This book discusses the economic and biological forces and consequences of wild fish harvesting, for both open access and sustainable management. Single species, multispecies and ecosystem issues are included. The aquaculture part discusses production, demand, environmental issues and management, from both firm and society perspectives. Examples from several geographical areas and different species are discussed within the framework of environmental and resource economics. This book should be of value to students both in economics and multi-disciplinary fisheries programs, as well as to people in industry and management.

About the author

Dr. Ola Flaaten is a Professor of Resource Economics at the University of Tromsø, the Arctic University of Norway. His professional career started at the Ministry of Fisheries, Oslo. He has spent sabbatical years at the University of British Columbia, Canada and the University of Portsmouth, UK, as well as shorter terms at University of Copenhagen and University of Nha Trang. For three years, he was Head of the Fisheries Division, the Organisation for Economic Cooperation and Development (OECD), Paris. For two periods, he has been the advisor to joint projects between Nha Trang University, Vietnam and three Norwegian universities, funded by the Government of Vietnam and the Government of Norway. He has been on international panels evaluating fisheries programs in Denmark and Mozambique. He was a member of a Government of Norway appointed committee on climate change. He initiated and coordinated the Master program in Fisheries and aquaculture management and economics (NOMA-FAME), Nha Trang. Professor Flaaten has participated in and headed research projects funded by Norwegian, Nordic and EU research councils. He has published three books, book chapters, journal articles, conference proceeding papers, and economic and policy reports, in both English and Norwegian, with some translations to Russian and Vietnamese. He holds the Distinguished Service Award of The International Institute of Fisheries Economics and Trade (IIFET), Certificate of Appreciation from Nha Trang University and Diploma and Medal from The Minister of Training and Education, Vietnam.

  1. Preface
  2. Acknowledgements 
  3. Part I Introduction 
  4. Introduction 
  5. Part II Fisheries
  6. Population dynamics and fishing
    1. Growth of fish stocks 
    2. Effort and production 
    3. Yield and stock effects of fishing
  7. A basic bioeconomic model 
    1. Open access bioeconomic equilibrium 
    2. Maximising resource rent 
    3. Effort and harvest taxes 
    4. Fishing licences and quotas
  8. Investment analysis
    1. Discounting
    2. Fish stocks as capital
    3. Long-run optimal stock levels
    4. Transition to long-run optimum
    5. Adjusted transition paths
  9. The Gordon-Schaefer model 
    1. The logistic growth model
    2. The open-access fishery 
    3. Economic optimal harvesting
    4. Discounting effects 
  10. Fishing vessel economics
    1. Optimal vessel effort
    2. Vessel behaviour in the long run 
    3. Quota price and optimal effort 
    4. A small-scale fisher’s choice of leisure time and income
  11. Extension of the basic bioeconomic model 
    1. Intra-marginal rent for the most efficient vessels 
    2. Marine reserves 
  12. Growth and yield of year classes
    1. Growth and ageing 
    2. Sustainable yield and economic surplus 
  13. Multispecies and ecosystem harvesting 
    1. Multispecies and ecosystem management 
    2. More on predator-prey modelling 
  14. Recreational fishing 
    1. Recreational angling 
    2. Short-run analysis 
    3. Long-run analysis 
  15. Part III Aquaculture
  16. Aquaculture Production 
    1. Introduction 
    2. The global picture 
    3. The lead producers 
    4. Two successful countries
    5. Supply growth
  17. Demand and trade 
    1. Consumer demand 
    2. Demand and price development 
    3. International trade in aquaculture products 
    4. Fish trade   
    5. Trade in major fish species 
  18. Environmental issues 
    1. Some problems 
    2. Environmental economic analysis 
    3. Environmental issues in salmon production 
    4. Environmental issues in shrimp farming 
    5. Concluding remarks 
  19. Plant and industry management 
    1. The basic problem
    2. Recruitment cost
    3. Feed cost
    4. Harvest cost 
    5. Rotation issues
    6. Seasonal issues 
    7. Economic rent in aquaculture (ERA) 
    8. The future 
  20. References 
  21. Endnotes 
About the Author

Ola Flaaten