4.2 Article

REBUILDING THE EASTERN BALTIC COD STOCK UNDER ENVIRONMENTAL CHANGE (PART II): TAKING INTO ACCOUNT THE COSTS OF A MARINE PROTECTED AREA

Journal

NATURAL RESOURCE MODELING
Volume 22, Issue 1, Pages 1-25

Publisher

WILEY
DOI: 10.1111/j.1939-7445.2008.00027.x

Keywords

Baltic cod; cost-stock elasticity; cost-output elasticity; sensitivity analysis; climate change scenario; management; policy; temporal marine reserve

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This study adds a cost analysis of the Eastern Baltic cod fishery to the existing model presented in Rockmann et al. [2007a]. As cost data on this international fishery do not exist, data from Denmark are extrapolated to the whole international fishery. Additionally, unit and total variable costs are simulated, and the sensitivity to a set of different cost-stock and cost-output elasticities is tested. The study supports preliminary conclusions that a temporary marine reserve policy, which focuses on protecting the Eastern Baltic cod spawning stock in the International Council for the Exploration of the Sea (ICES) subdivision 25, is a valuable fisheries management tool to (i) rebuild the overexploited Eastern Baltic cod stock and (ii) increase operating profits. The negative effects of climate change can be postponed for at least 20 years-depending on the assumed rate of future climate change. Including costs in the economic analysis does not change the ranking of management policies as proposed in the previous study where costs were neglected.

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