caa a22 4500 467921067 CHVBK 20180406152917.0 cr unu---uuuuu 170328e20060401xx s 000 0 eng 10.1007/s10818-005-5783-x doi (NATIONALLICENCE)springer-10.1007/s10818-005-5783-x Implementing a Stochastic Bioeconomic Model for the North-East Arctic Cod Fishery [Elektronische Daten] [Kanaganayagam Kugarajh, Leif Sandal, Gerhard Berge] In this paper, we study how a stochastic model can be used to determine optimal levels of exploitation of the North-East Arctic Cod (NEAC, Gadus morhua). A non-critical depensation growth model is developed for this species in order to examine both deterministic and stochastic cases. Estimation of the biological and the noise term parameters in the stochastic biomass dynamics is based on simulation and use of empirical NEAC data sets for the years 1985-2001. The Kolmogorov- Smirnov criterion-based method is used to estimate both drift and diffusion parameters simultaneously. The estimates turn out to be reasonable and the model is able to capture the salient features of the NEAC dynamics. The model is used to derive optimal levels of exploitation with different diffusion functions in the stochastic case and various discount rates in the deterministic case. Optimal catches are compared to the historical catch records. A striking feature of our modeling results is that these records fit surprisingly well with the infinite discounting tracks, i.e., the bliss solution. Our general results indicate that over fishing has resulted from lack of long-term planning as well as inadequate response to uncertainty. Springer, 2006 Kolmogorov-Smirnov statistics nationallicence optimal control nationallicence parameter estimation nationallicence stochastic bioeconomic model nationallicence C10 nationallicence C14 nationallicence Q20 nationallicence Q22 nationallicence Kugarajh Kanaganayagam Department of Mathematics, University of Bergen, Johs. Brunsgt. 12, N 5008, Bergen, Norway aut Sandal Leif Department of Finance and Management Science, Norwegian School of Economics and Business Administration, Bergen, Norway aut Berge Gerhard Department of Mathematics, University of Bergen, Bergen, Norway aut Journal of Bioeconomics Kluwer Academic Publishers 8/1(2006-04-01), 35-53 1387-6996 8:1<35 2006 8 10818 https://doi.org/10.1007/s10818-005-5783-x text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10818-005-5783-x text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Kugarajh Kanaganayagam Department of Mathematics, University of Bergen, Johs. Brunsgt. 12, N 5008, Bergen, Norway aut NATIONALLICENCE 700 1- Sandal Leif Department of Finance and Management Science, Norwegian School of Economics and Business Administration, Bergen, Norway aut NATIONALLICENCE 700 1- Berge Gerhard Department of Mathematics, University of Bergen, Bergen, Norway aut NATIONALLICENCE 773 0- Journal of Bioeconomics Kluwer Academic Publishers 8/1(2006-04-01), 35-53 1387-6996 8:1<35 2006 8 10818 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer