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• 1. [Article] Experience of vessel decommissioning in Danish fisheries

  Research Paper

  Citation × Citation Citation Abstract Copy Title: Experience of vessel decommissioning in Danish fisheries Author: Lindebo, Erik, Vestergaard, Niels Research Paper Title: Experience of vessel decommissioning in Danish fisheries Author: Lindebo, Erik, Vestergaard, Niels Research Paper Close

• 2. [Article] The Role of Expectations in Modeling Fishing Fleet Capacity Changes

  The paper analyzes a situation in which the fishing fleet is subject to restrictive regulation regarding the harvest of its primal target species due to biological overfishing that in turn reveals a high ...

  Citation × Citation Citation Abstract Copy Title: The Role of Expectations in Modeling Fishing Fleet Capacity Changes Author: Hutniczak, Barbara, Vestergaard, Niels The paper analyzes a situation in which the fishing fleet is subject to restrictive regulation regarding the harvest of its primal target species due to biological overfishing that in turn reveals a high level of overcapacity. The goal is to model fishermen’s expectations and likely responses to the government initiated transition to a sustainable fishery. The question the paper aims to answer is: to what degree anticipation of policy change may be delaying the fleet restructuring process. The investigated setting includes direct intervention in the form of a time‐limited buyback program and two scenarios regarding future regulations. In the first, the fishery continues under Individual Vessel Quotas (IVQs). In the second scenario, introduction of Individual Transferable Quotas (ITQs) is expected in the near future. Under a rationality assumption, the exit decision depends on the expected sum of discounted profits in comparison with the single buyback payment. The profits in turn depend on expectations regarding the form of the quota that may become a valuable asset in the future. The paper uses a restricted profit function approach. The advantage of the developed model is its flexibility with respect to the multispecies and multigear character of the fishing industry. An application is provided for the Polish trawler fleet targeting primarily cod. Title: The Role of Expectations in Modeling Fishing Fleet Capacity Changes Author: Hutniczak, Barbara, Vestergaard, Niels The paper analyzes a situation in which the fishing fleet is subject to restrictive regulation regarding the harvest of its primal target species due to biological overfishing that in turn reveals a high level of overcapacity. The goal is to model fishermen’s expectations and likely responses to the government initiated transition to a sustainable fishery. The question the paper aims to answer is: to what degree anticipation of policy change may be delaying the fleet restructuring process. The investigated setting includes direct intervention in the form of a time‐limited buyback program and two scenarios regarding future regulations. In the first, the fishery continues under Individual Vessel Quotas (IVQs). In the second scenario, introduction of Individual Transferable Quotas (ITQs) is expected in the near future. Under a rationality assumption, the exit decision depends on the expected sum of discounted profits in comparison with the single buyback payment. The profits in turn depend on expectations regarding the form of the quota that may become a valuable asset in the future. The paper uses a restricted profit function approach. The advantage of the developed model is its flexibility with respect to the multispecies and multigear character of the fishing industry. An application is provided for the Polish trawler fleet targeting primarily cod. Close

• 3. [Article] Indicators for Ecosystem Externalities in Fishing

  Ecosystem externalities arise when one use of an ecosystem affects its other uses through the production functions of the ecosystem. We use simulations from a size-spectrum ecosystem model to investigate ...

  Citation × Citation Citation Abstract Copy Title: Indicators for Ecosystem Externalities in Fishing Author: Andersen, Ken H., Vestergaard, Niels, Ravn-Jonsen, Lars Ecosystem externalities arise when one use of an ecosystem affects its other uses through the production functions of the ecosystem. We use simulations from a size-spectrum ecosystem model to investigate the ecosystem externality created by fishing of multiple species. The model is based upon general ecological principles and is calibrated to the North Sea. Two fleets are considered: a `forage fish’ fleet targeting species that mature at small sizes and a `large fish’ fleet targeting large piscivorous species. Based on the marginal analysis of the present value of the rent, we develop a benefit indicator that explicitly divides the consequences of fishing into internal and external benefits. This analysis demonstrates that the forage fish fleet has a notable economic impact on the large fish fleet, but the reverse is not true. The impact can be either negative or positive, which entails that for optimal economic exploitation, the forage fishery has to be adjusted according to the large fish fishery. With the present large fish fishery in the North Sea, the two fisheries are well adjusted; however, the present combined exploration level is too high to achieve optimal economic rents. Title: Indicators for Ecosystem Externalities in Fishing Author: Andersen, Ken H., Vestergaard, Niels, Ravn-Jonsen, Lars Ecosystem externalities arise when one use of an ecosystem affects its other uses through the production functions of the ecosystem. We use simulations from a size-spectrum ecosystem model to investigate the ecosystem externality created by fishing of multiple species. The model is based upon general ecological principles and is calibrated to the North Sea. Two fleets are considered: a `forage fish’ fleet targeting species that mature at small sizes and a `large fish’ fleet targeting large piscivorous species. Based on the marginal analysis of the present value of the rent, we develop a benefit indicator that explicitly divides the consequences of fishing into internal and external benefits. This analysis demonstrates that the forage fish fleet has a notable economic impact on the large fish fleet, but the reverse is not true. The impact can be either negative or positive, which entails that for optimal economic exploitation, the forage fishery has to be adjusted according to the large fish fishery. With the present large fish fishery in the North Sea, the two fisheries are well adjusted; however, the present combined exploration level is too high to achieve optimal economic rents. Close