OPTIMALSUSTAINABLE MANAGEMENT OF MULTISPECIES FISHERIES: LESSONS FROM A PREDATORPREY MODEL Academic Article uri icon

abstract

  • ABSTRACT. In this paper we consider the meaning of sustainable resource management in multidimensional resources. Based on the principle of intergenerational fairness, we define fisheries management as sustainable if it does not lead to a decline in the net present value of the fishery. If sustainability, or intergenerational fairness, were held as an obligation by fishery managers, then the traditional presentvalue maximization objective would be constrained. Using numerical solutions to a simple predatorprey model, we explore how the optimalsustainable management of this fishery would differ from management that seeks to maximize the present value of the benefits. General lessons regarding the meaning of sustainable fishery management are discussed.

published proceedings

  • Natural Resource Modeling

author list (cited authors)

  • WOODWARD, R. T., & BISHOP, R. C.

citation count

  • 7

complete list of authors

  • WOODWARD, RICHARD T||BISHOP, RICHARD C

publication date

  • September 1999

publisher