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• 1. [Article] Toward Optimal Use of Bangladesh Hilsa Resource: Bio-Economic Modelling

  Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, ...

  Citation × Citation Citation Abstract Copy Title: Toward Optimal Use of Bangladesh Hilsa Resource: Bio-Economic Modelling Author: Hossain, Mohammod, Arnason, Ragnar Year: 2016 Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016. Title: Toward Optimal Use of Bangladesh Hilsa Resource: Bio-Economic Modelling Author: Hossain, Mohammod, Arnason, Ragnar Year: 2016 Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016. Close

• 2. [Article] On the Appropriate Rate of Discount

  Discount rates, it is well-known, play an important role in the determining optimal extraction paths for natural resources. In fisheries analysis, as well as other natural resource use, constant discount ...

  Citation × Citation Citation Abstract Copy Title: On the Appropriate Rate of Discount Author: Arnason, Ragnar Discount rates, it is well-known, play an important role in the determining optimal extraction paths for natural resources. In fisheries analysis, as well as other natural resource use, constant discount rates are customarily assumed. In practical applications, the constant discount rate is often taken to be the social rate of discount which is usually assumed to be quite low. Incorporating the fishery in a two-sector economic growth model, it is easy to show that this customary approach is inappropriate. The appropriate discount rate to use in the fishery is at all times the marginal production of capital in the other sector and vice versa. It immediately follows that the appropriate discount rate varies with the state of capital accumulation as well as over the business cycle. A further consequence is that in developing countries where the marginal product of capital is typically high, high fish stock exploitation levels may be perfectly compatible with what is socially social optimal. Title: On the Appropriate Rate of Discount Author: Arnason, Ragnar Discount rates, it is well-known, play an important role in the determining optimal extraction paths for natural resources. In fisheries analysis, as well as other natural resource use, constant discount rates are customarily assumed. In practical applications, the constant discount rate is often taken to be the social rate of discount which is usually assumed to be quite low. Incorporating the fishery in a two-sector economic growth model, it is easy to show that this customary approach is inappropriate. The appropriate discount rate to use in the fishery is at all times the marginal production of capital in the other sector and vice versa. It immediately follows that the appropriate discount rate varies with the state of capital accumulation as well as over the business cycle. A further consequence is that in developing countries where the marginal product of capital is typically high, high fish stock exploitation levels may be perfectly compatible with what is socially social optimal. Close

• 3. [Article] Stock and (possibly) path dependent technologies

  According to conventional economic wisdom the economically more efficient technology will always outcompete the less efficient. This hypothesis has usually been taken to hold for the exploitation of common ...

  Citation × Citation Citation Abstract Copy Title: Stock and (possibly) path dependent technologies Author: Arnason, Ragnar, Willmann, Rolf According to conventional economic wisdom the economically more efficient technology will always outcompete the less efficient. This hypothesis has usually been taken to hold for the exploitation of common pool renewable natural resources such as fish stocks. This paper claims that, while this is not necessarily false, it may be too optimistic. The paper shows that what constitutes the most efficient technology may switch depending on biomass size. It also shows that once effective fisheries management is introduced and biomass recovers, a return to the initially most efficient technology may not be possible because of its embeddedness in traditional knowledge and institutions which might have become forgotten or lost. Thus, there may be a degree of technological irreversibilty in fisheries and other natural reource utilization. The paper’s findings seem relevant to many situations in developing countries fisheries where labour- intensive technologies are displaced by more capital-intensive technologies, often introduced with government subsidies. The uncontrolled expansion of the latter then creates the condition, i.e. reduced stock sizes, especially in inshore areas, that disadvantages the intially more efficient labour-intensive technologies. Title: Stock and (possibly) path dependent technologies Author: Arnason, Ragnar, Willmann, Rolf According to conventional economic wisdom the economically more efficient technology will always outcompete the less efficient. This hypothesis has usually been taken to hold for the exploitation of common pool renewable natural resources such as fish stocks. This paper claims that, while this is not necessarily false, it may be too optimistic. The paper shows that what constitutes the most efficient technology may switch depending on biomass size. It also shows that once effective fisheries management is introduced and biomass recovers, a return to the initially most efficient technology may not be possible because of its embeddedness in traditional knowledge and institutions which might have become forgotten or lost. Thus, there may be a degree of technological irreversibilty in fisheries and other natural reource utilization. The paper’s findings seem relevant to many situations in developing countries fisheries where labour- intensive technologies are displaced by more capital-intensive technologies, often introduced with government subsidies. The uncontrolled expansion of the latter then creates the condition, i.e. reduced stock sizes, especially in inshore areas, that disadvantages the intially more efficient labour-intensive technologies. Close

• 4. [Article] The Fishery as Economic Base in the Newfoundland Economy

  Research Paper

  Citation × Citation Citation Abstract Copy Title: The Fishery as Economic Base in the Newfoundland Economy Author: Schrank, William E., Arnason, Ragnar, Roy, Noel Research Paper Title: The Fishery as Economic Base in the Newfoundland Economy Author: Schrank, William E., Arnason, Ragnar, Roy, Noel Research Paper Close

• 5. [Article] Arctic Char Fish Farming in Iceland: Is it a Success?

  Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, ...

  Citation × Citation Citation Abstract Copy Title: Arctic Char Fish Farming in Iceland: Is it a Success? Author: Arnason, Ragnar, Olafsdottir, Gudrun, Heimisson, Asgeir Fridrik Year: 2016 Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016. Title: Arctic Char Fish Farming in Iceland: Is it a Success? Author: Arnason, Ragnar, Olafsdottir, Gudrun, Heimisson, Asgeir Fridrik Year: 2016 Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016. Close

• 6. [Article] Economics of the Global Marine Fishery: Changes between 2004 and 2012

  Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, ...

  Citation × Citation Citation Abstract Copy Title: Economics of the Global Marine Fishery: Changes between 2004 and 2012 Author: Arnason, Ragnar Year: 2016 Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016. Title: Economics of the Global Marine Fishery: Changes between 2004 and 2012 Author: Arnason, Ragnar Year: 2016 Suggested Bibliographic Reference: Challenging New Frontiers in the Global Seafood Sector: Proceedings of the Eighteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 11-15, 2016. Compiled by Stefani J. Evers and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2016. Close

• 7. [Article] The Artisanal Hilsa Fishery: economically Efficient Fisheries Policy

  The hilsa shad (Tenualosa ilisha) fishery is by far the largest single species fishery in Bangladesh. In this paper, a simple bio-economic year-class based model is developed to describe the fishery and ...

  Citation × Citation Citation Abstract Copy Title: The Artisanal Hilsa Fishery: economically Efficient Fisheries Policy Author: Arnason, Ragnar, Mome, Masud Ara The hilsa shad (Tenualosa ilisha) fishery is by far the largest single species fishery in Bangladesh. In this paper, a simple bio-economic year-class based model is developed to describe the fishery and examine its properties. With the help of this model, the optimum sustainable yield of the fishery is calculated and compared to the existing situation. The model is further used to locate socially and economically reasonably dynamic paths from the current situation to the optimal one. The results indicate that the fishing effort (measured in standardized boat units) required maintaining maximum sustainable economic benefits are about one-third of the current fishing effort. At this sustainable fishing effort level, annual net economic benefits from the fishery amount to about US$ 260 million according to my calculations compared to virtually nothing today. The present value of the fishery along a moderate effort adjustment path to this long term equilibrium position is US$ 3,650 million at 6% rate of discount. The dynamic path that maximizes the present value of the fishery involves quite dramatic effort reductions for the first two years. Such a path would increase the present value of the fishery by perhaps 8-10%. Title: The Artisanal Hilsa Fishery: economically Efficient Fisheries Policy Author: Arnason, Ragnar, Mome, Masud Ara The hilsa shad (Tenualosa ilisha) fishery is by far the largest single species fishery in Bangladesh. In this paper, a simple bio-economic year-class based model is developed to describe the fishery and examine its properties. With the help of this model, the optimum sustainable yield of the fishery is calculated and compared to the existing situation. The model is further used to locate socially and economically reasonably dynamic paths from the current situation to the optimal one. The results indicate that the fishing effort (measured in standardized boat units) required maintaining maximum sustainable economic benefits are about one-third of the current fishing effort. At this sustainable fishing effort level, annual net economic benefits from the fishery amount to about US$ 260 million according to my calculations compared to virtually nothing today. The present value of the fishery along a moderate effort adjustment path to this long term equilibrium position is US$ 3,650 million at 6% rate of discount. The dynamic path that maximizes the present value of the fishery involves quite dramatic effort reductions for the first two years. Such a path would increase the present value of the fishery by perhaps 8-10%. Close

• 8. [Article] Fisheries Management Services in Iceland: Costs and Arrangements

  presentation

  Citation × Citation Citation Abstract Copy Title: Fisheries Management Services in Iceland: Costs and Arrangements Author: Arnason, Ragnar presentation Title: Fisheries Management Services in Iceland: Costs and Arrangements Author: Arnason, Ragnar presentation Close