Record Details
Having a Crack at MEY when Time, Money and Data are Short
ScholarsArchive at Oregon State University
| Field | Value |
|---|---|
| Title | Having a Crack at MEY when Time, Money and Data are Short |
| Names |
Edwards, Roger
(creator) Morison, Julian (creator) Rippin, Lisa (creator) Sloan, Sean (creator) Fistr, Alice (creator) |
| Date Issued | 2014-07-07 (iso8601) |
| Note | presentation |
| Abstract | A Fishery Gross Margin (FGM) model has been used, as a cost-effective and practical alternative to more complex economic modelling, to inform the development of structured TACC decision rules as part of the formal harvest strategy adopted for the South Australian Pipi (donax Deltiodes) fishery since 2012. The primary economic objective of the harvest strategy is to ensure that sustainable harvest levels maximise Fishery Gross Margin (FGM) as a proxy for maximum economic yield (MEY). Measuring MEY requires sophisticated modelling tools and data which are cost prohibitive in this case. FGM is calculated as total fishery income less total variable costs, where variable costs are proportionate to fishing effort. Increases in TACC can only occur if FGM is expected to increase by at least 1.5% and TACC decreases are triggered if FGM is expected to increase by at least 1.5%. In 2012, biological assessment and subsequent application of the biological TACC decision rule supported a TACC increase from 400 tonnes to 500 tonnes. The TACC increase was not implemented because the economic assessment resulted in an expected reduction in FGM. In 2013 the TACC increased as the assessment resulted in an expected increase in FGM above the required 1.5%, due to a planned value adding initiative. The model strengths and weaknesses, industry and manager responses and issues with the approach are presented. |
| Genre | Presentation |
| Topic | Fisheries Economics |
| Identifier | Edwards, Roger, J. Morison, L. Rippin, S. Sloan, A. Fistr. 2014. Having a Crack at MEY when Time, Money and Data are Short. In: Towards ecosystem based management of fisheries: what role can economics play?: Proceedings of the Seventeenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 7-11, 2014, Brisbane, Australia. Complied by Ann L. Shriver & Melissa Errend. Corvallis, OR: International Institute of Fisheries. |
