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Profit and equity trade-offs in the management of small pelagic fisheries: the case of the Japanese sardine fishery

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Jang, HG, Yamazaki, S ORCID: 0000-0003-1279-2706 and Hoshino, E ORCID: 0000-0001-7110-4251 2019 , Profit and equity trade-offs in the management of small pelagic fisheries: the case of the Japanese sardine fishery.

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Abstract

The management of small pelagic fisheries is notoriously difficult due to environmental
regime changes that generate multi-decadal cyclic fluctuations in stock abundance. Lagged
management responses to environmental factors can amplify the effects of fishing and may
even result in stock collapse. In this paper, we develop an age-structured bioeconomic model
to explore the effectiveness of alternative management approaches for cyclically fluctuating
small pelagic fish stocks. The fishery outcomes are evaluated against the overall profit of the
fishery and the intertemporal distribution of fishing profits. The model is parameterised for
the Japanese sardine fishery, once the largest fishery in Japan, which has experienced a
prolonged period of stock collapse over the last 100 years. The results show that the duration
of fishery collapse is mostly determined by the extent of cyclic fluctuations in the recruitment
of immature sardines, but that the effects of the fluctuations on the fishery are heightened by
the cumulative impact of fishing. We further show that restricting fishing reduces the
fishery’s overall profits, but smooths the intertemporal distribution of profits, resulting in
greater intergenerational equity. This income smoothing effect is particularly pronounced
when the stock exhibits high levels of cyclic fluctuations.

Item Type: Report (Discussion Paper)
Authors/Creators:Jang, HG and Yamazaki, S and Hoshino, E
Keywords: bioeconomic models, environmental fluctuations, Japan, small pelagic fisheries, intergenerational equity
Publisher: University of Tasmania
Copyright Information:

Copyright 2019 University of Tasmania

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