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Output versus input controls under uncertainty: The case of a fishery

Yamazaki, Satoshi; Kompas, Tom; Grafton, Quentin


The paper compares the management outcomes with a total allowable catch (TAC) and a total allowable effort (TAE) in a fishery under uncertainty. Using a dynamic programming model with multiple uncertainties and estimated growth, harvest and effort functions from one of the world’s largest fisheries, the relative economic and biological benefits of a TAC and TAE are compared and contrasted in a stochastic environment. This approach provides a decision and modeling framework to compare...[Show more]

CollectionsANU Crawford School of Public Policy
Type: Working/Technical Paper
Source: Natural Resource Modeling
DOI: 10.1111/j.1939-7445.2008.00034.x


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