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NHH Brage
Research . 2010
Data sources: NHH Brage
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SSRN Electronic Journal
Article . 2010 . Peer-reviewed
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Global Warming and International Fishery Management: Does Anticipation of the Temperature Change Matter?

Authors: Liu, Xiaozi; Heino, Mikko;

Global Warming and International Fishery Management: Does Anticipation of the Temperature Change Matter?

Abstract

This paper investigates the effects of climate-induced rising of ocean temperature on the optimal fishing policies in a two players non-cooperative game setting. We compare reactive management, under which the manager does not believe in or know about temperature trend, with proactive management where the manager considers the future temperature change in his decisions. We assume that the fish stock is initially solely owned by country one. As temperature rises, the stock starts spilling over to the zone of the other country and eventually becomes under its sole ownership. A stochastic dynamic programming model is developed to identify Nash management strategies for the two players. The main findings are that anticipation of temperature trend induces notable strategic interactions between two players. Knowing that it is gradually loosing the stock, country one is often harvesting more aggressively, whereas the country that is increasing its ownership harvests more conservatively. Compared to reactive management, proactive management benefits both parties in terms of their cumulative pay-offs; the biological stock is also larger much of the time. In most cases, the difference between two management regimes is subtle, but when the stock is slow-growing and highly schooling, proactive management may save it from collapse.

Country
Norway
Keywords

VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212, optimal fishing policy, Climate change; Nash game; stochastic dynamic programming; optimal fishing policy, VDP::Samfunnsvitenskap: 200::Økonomi: 210::Bedriftsøkonomi: 213, climate change, VDP::Landbruks- og Fiskerifag: 900::Fiskerifag: 920::Andre fiskerifag: 929, Nash game, stochastic dynamic programming, jel: jel:Q50

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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
1
Average
Average
Average
Green
bronze