caa a22 4500 397550391 CHVBK 20180308164748.0 cr unu---uuuuu 161202e199608 xx s 000 0 eng 10.1006/jmsc.1996.0085 doi (NATIONALLICENCE)oxford-10.1006/jmsc.1996.0085 On the rational utilization of the Icelandic cod stock [Elektronische Daten] [Fridrik M. Baldursson, Ásgeir Daníelsson, Gunnar Stefánsson] The Icelandic cod stock is analysed with respect to the probable effects of different harvesting strategies on yield, spawning stock biomass, and economic benefits. Simulations are used to investigate the probability of stock recovery and collapse. Potential yield and economic benefits/costs are also investigated, using stochastic and deterministic models. In stochastic simulations, attention is paid to the apparent stock-recruitment relationship, the highly variable weight-at-age and maturity-at-age in Icelandic waters along with the inevitable inaccuracies in current and future assessments. Regardless of method, substantial reduction in catches from recent (1993) levels is seen to be necessary in order to rebuild the stock. In the deterministic model, profit maximization mandates closure of the fishery until the stock is rehabilitated. Using the stochastic model, it is predicted that recent catch levels lead to eventual extinction of the stock with high probability. A management procedure is formulated and its application to the model is shown to lead to stabilization of the stock around an economically and biologically acceptable level. © 1996 International council for the Exploration of the Sea Articles nationallicence Beverton-Holt nationallicence economic models nationallicence Ricker nationallicence stochastic models nationallicence stock rebuilding nationallicence Baldursson Fridrik M. National Economic Institute and the University of Iceland Reykjavik, Iceland aut Daníelsson Ásgeir National Economic Institute Reykjavik, Iceland aut Stefánsson Gunnar Marine Research Institute Reykjavik, Iceland aut ICES Journal of Marine Science Oxford University Press 53/4(1996-08), 643-658 1054-3139 53:4<643 1996 53 icesjms https://doi.org/10.1006/jmsc.1996.0085 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1006/jmsc.1996.0085 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Baldursson Fridrik M. National Economic Institute and the University of Iceland Reykjavik, Iceland aut NATIONALLICENCE 700 1- Daníelsson Ásgeir National Economic Institute Reykjavik, Iceland aut NATIONALLICENCE 700 1- Stefánsson Gunnar Marine Research Institute Reykjavik, Iceland aut NATIONALLICENCE 773 0- ICES Journal of Marine Science Oxford University Press 53/4(1996-08), 643-658 1054-3139 53:4<643 1996 53 icesjms Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford