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Fishery collapse revisited

Publication ,  Journal Article
Li, Q; Smith, MD
Published in: Marine Resource Economics
January 1, 2021

Fishery collapse has been defined as a fishery with annual landings less than 10% of the historic maximum observed catch. However, this 10% rule is not grounded in bioeconomic theory despite being widely used in empirical economic studies of fisheries. We assess the 10% rule by simulating fisheries under pure open access, open access with cost changes, open access with critical depensation, optimal management (both deterministic and stochastic cases), and rebuilding plans. We show that the 10% rule generates false negatives and false positives, and that the prevalence of these problems varies under different institutional configurations, economic incentives, and biological conditions. We urge researchers to abandon this outcome measure for comparative empirical tests and encourage more research on collapse that attends to human agency and institutions.

Duke Scholars

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Published In

Marine Resource Economics

DOI

EISSN

2334-5985

ISSN

0738-1360

Publication Date

January 1, 2021

Volume

36

Issue

1

Start / End Page

1 / 22

Related Subject Headings

  • 3801 Applied economics
  • 3005 Fisheries sciences
  • 1402 Applied Economics
  • 0704 Fisheries Sciences
 

Citation

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Chicago
ICMJE
MLA
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Li, Q., & Smith, M. D. (2021). Fishery collapse revisited. Marine Resource Economics, 36(1), 1–22. https://doi.org/10.1086/711233
Li, Q., and M. D. Smith. “Fishery collapse revisited.” Marine Resource Economics 36, no. 1 (January 1, 2021): 1–22. https://doi.org/10.1086/711233.
Li Q, Smith MD. Fishery collapse revisited. Marine Resource Economics. 2021 Jan 1;36(1):1–22.
Li, Q., and M. D. Smith. “Fishery collapse revisited.” Marine Resource Economics, vol. 36, no. 1, Jan. 2021, pp. 1–22. Scopus, doi:10.1086/711233.
Li Q, Smith MD. Fishery collapse revisited. Marine Resource Economics. 2021 Jan 1;36(1):1–22.
Journal cover image

Published In

Marine Resource Economics

DOI

EISSN

2334-5985

ISSN

0738-1360

Publication Date

January 1, 2021

Volume

36

Issue

1

Start / End Page

1 / 22

Related Subject Headings

  • 3801 Applied economics
  • 3005 Fisheries sciences
  • 1402 Applied Economics
  • 0704 Fisheries Sciences