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• 1. [Article] Trends in Fish Price Volatility: Icelandic Whitefish

  For centuries, the Icelandic people has relied on its abundance of natural resources and fisheries in particular. In today’s volatile and homogenous economy of Iceland, fisheries is one of its main export ...

  Citation × Citation Citation Abstract Copy Title: Trends in Fish Price Volatility: Icelandic Whitefish Author: Asche, Frank, Jonsson, Erlendur, Dahl, Roy Endré For centuries, the Icelandic people has relied on its abundance of natural resources and fisheries in particular. In today’s volatile and homogenous economy of Iceland, fisheries is one of its main export industries, together with power-intensive manufacturing and tourism. Consequently, movements in fish prices have a significant effect on the economy as a whole, making the small nation of Iceland vulnerable to fish price volatility.  In this study, we investigate market price uncertainty of exported whitefish in Iceland. Among whitefish, cod is the most important fish species for the Icelandic fisheres, with haddock and pollack following. We model the price volatility for a set of whitefish speiees and establish empirically that price volatility is stable or in a downward trend. Contributing factors such as the food price trends and trends in world whitefish markets are discussed. In addition, we account for other contributing factors to volatility such as the financial crisis, exchange rates, quota restriction and policy implications. Title: Trends in Fish Price Volatility: Icelandic Whitefish Author: Asche, Frank, Jonsson, Erlendur, Dahl, Roy Endré For centuries, the Icelandic people has relied on its abundance of natural resources and fisheries in particular. In today’s volatile and homogenous economy of Iceland, fisheries is one of its main export industries, together with power-intensive manufacturing and tourism. Consequently, movements in fish prices have a significant effect on the economy as a whole, making the small nation of Iceland vulnerable to fish price volatility.  In this study, we investigate market price uncertainty of exported whitefish in Iceland. Among whitefish, cod is the most important fish species for the Icelandic fisheres, with haddock and pollack following. We model the price volatility for a set of whitefish speiees and establish empirically that price volatility is stable or in a downward trend. Contributing factors such as the food price trends and trends in world whitefish markets are discussed. In addition, we account for other contributing factors to volatility such as the financial crisis, exchange rates, quota restriction and policy implications. Close

• 2. [Article] Measuring the Value of Forage Fish to Recreational Fishermen

  Fisheries management has been traditionally single-species oriented. Only recently more pressure has been put on developing a holistic, science-based approach that considers the ecosystem as a whole. This ...

  Citation × Citation Citation Abstract Copy Title: Measuring the Value of Forage Fish to Recreational Fishermen Author: Lipton, Doug, Hutniczak, Barbara, Townsend, Howard Fisheries management has been traditionally single-species oriented. Only recently more pressure has been put on developing a holistic, science-based approach that considers the ecosystem as a whole. This approach is widely known as ecosystem-based fisheries management (EBFM). One of the most often highlighted aspects of EBFM is the relevance of predator-prey interactions in the aquatic ecosystems. The motivation is that there are considerable trade-offs between the supporting role of forage species as energy conveyors in food webs and provisioning service as target species to fisheries. We study this aspect by looking at the Chesapeake Bay. The motivation is a recent debate on the potential impact of excessive forage base fishing. In particular, we are interested in the propagation of forage overfishing through the food web and its influence on more valuable, higher trophic species fisheries. We develop a Bayesian model of recreational harvest of striped bass where benefits are derived from stock size as well as age structure. The age structure drives the probability of catching a fish of a particular size what is of considerable importance to the fishery highly constrained by minimum catch size regulations. Then, using a dynamic multispecies framework (Ecosim) and modified random utility model, we analyze multiple scenarios varying by menhaden regulations and derive benefits changes imposed on the striped bass recreational fishery. We focus on the recreational sector as recent research indicates that the recreational fishing is becoming increasingly important and new management strategies may be necessary to address this shifting trend. Title: Measuring the Value of Forage Fish to Recreational Fishermen Author: Lipton, Doug, Hutniczak, Barbara, Townsend, Howard Fisheries management has been traditionally single-species oriented. Only recently more pressure has been put on developing a holistic, science-based approach that considers the ecosystem as a whole. This approach is widely known as ecosystem-based fisheries management (EBFM). One of the most often highlighted aspects of EBFM is the relevance of predator-prey interactions in the aquatic ecosystems. The motivation is that there are considerable trade-offs between the supporting role of forage species as energy conveyors in food webs and provisioning service as target species to fisheries. We study this aspect by looking at the Chesapeake Bay. The motivation is a recent debate on the potential impact of excessive forage base fishing. In particular, we are interested in the propagation of forage overfishing through the food web and its influence on more valuable, higher trophic species fisheries. We develop a Bayesian model of recreational harvest of striped bass where benefits are derived from stock size as well as age structure. The age structure drives the probability of catching a fish of a particular size what is of considerable importance to the fishery highly constrained by minimum catch size regulations. Then, using a dynamic multispecies framework (Ecosim) and modified random utility model, we analyze multiple scenarios varying by menhaden regulations and derive benefits changes imposed on the striped bass recreational fishery. We focus on the recreational sector as recent research indicates that the recreational fishing is becoming increasingly important and new management strategies may be necessary to address this shifting trend. Close