Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/55826
Authors: 
Quaas, Martin F.
Requate, Till
Year of Publication: 
2012
Series/Report no.: 
Economics working paper / Christian-Albrechts-Universität Kiel, Department of Economics 2012-03
Abstract: 
We present a model of a multi-species fishery and show that (i) consumer preferences for seafood diversity may trigger a sequential collapse of fish stocks under open-access fishery, (ii) the stronger the preferences are for diversity the higher is the need for coordinated multi-species regulation, (iii) second-best optimal management of only one (or a few) species is less strict than socially optimal management of the same species. Finally, (iv) myopic regulation of one species, ignoring spill-overs to other species, may cause depletion of other stocks that would not be depleted under open access.
Subjects: 
marine biodiversity
fishery economics
product differentiation
JEL: 
Q22
Q57
Q21
Document Type: 
Working Paper

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