Fishing for nutrients - economic effects of fisheries management targeting eutrophication in the Baltic Sea
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Fishing for nutrients - economic effects of fisheries management targeting eutrophication in the Baltic Sea. / Nielsen, Rasmus; Hoff, Ayoe; Waldo, Staffan; Hammarlund, Cecilia; Virtanen, Jarno.
In: Ecological Economics, Vol. 160, 2019, p. 156-167.Research output: Contribution to journal › Journal article › Research › peer-review
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T1 - Fishing for nutrients - economic effects of fisheries management targeting eutrophication in the Baltic Sea
AU - Nielsen, Rasmus
AU - Hoff, Ayoe
AU - Waldo, Staffan
AU - Hammarlund, Cecilia
AU - Virtanen, Jarno
PY - 2019
Y1 - 2019
N2 - The Baltic Sea is one of the most eutrophied seas in the world, facing challenges with both hypoxia and algae blooms. In this study we analyse the effect of using different fishery policy instruments to reduce nutrient loads by removing fish biomass from the ecosystem. The study covers Danish, Finnish and Swedish pelagic fisheries. We distinguish between a private optimum maximising the net present value from fishing and a social optimum including the positive externality of removing nutrients. A dynamic bio-economic model, FishRent, is used to estimate the effect of three policy scenarios: Fisheries regulation using individual transferable quotas (ITQ); Economic compensation provided to fishers for reducing nutrients; and Environmental regulation maximising sustainable catches. The results show that the highest social welfare gain is achieved by maximising catch volumes while having a flexible system for quota trade within the fishing sector. The social welfare gain from the positive externality of the extra fish landed in this case outweighs the private loss of not fishing at the optimal individual level (maximum economic yield).
AB - The Baltic Sea is one of the most eutrophied seas in the world, facing challenges with both hypoxia and algae blooms. In this study we analyse the effect of using different fishery policy instruments to reduce nutrient loads by removing fish biomass from the ecosystem. The study covers Danish, Finnish and Swedish pelagic fisheries. We distinguish between a private optimum maximising the net present value from fishing and a social optimum including the positive externality of removing nutrients. A dynamic bio-economic model, FishRent, is used to estimate the effect of three policy scenarios: Fisheries regulation using individual transferable quotas (ITQ); Economic compensation provided to fishers for reducing nutrients; and Environmental regulation maximising sustainable catches. The results show that the highest social welfare gain is achieved by maximising catch volumes while having a flexible system for quota trade within the fishing sector. The social welfare gain from the positive externality of the extra fish landed in this case outweighs the private loss of not fishing at the optimal individual level (maximum economic yield).
KW - Dynamic bio-economic modelling
KW - Fisheries
KW - Fisheries policy
KW - Nutrient emission
U2 - 10.1016/j.ecolecon.2019.02.013
DO - 10.1016/j.ecolecon.2019.02.013
M3 - Journal article
AN - SCOPUS:85062297935
VL - 160
SP - 156
EP - 167
JO - Ecological Economics
JF - Ecological Economics
SN - 0921-8009
ER -
ID: 214651568