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The economic value of environmental data: A notional insurance scheme for the European anchovy

Anchovy population dynamics in the Gulf of Cádiz are governed by environmental processes. Sea surface temperature, intense easterly winds, and discharges from the Guadalquivir River have been identified as key factors determining early life stage mortality in this anchovy stock. We have constructed...

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Autor Principal: Rincón Hidalgo, Margarita María; Mumford, John; Levontin, Polina; Leach, Adrian; Ruiz, Javier
Formato: Artículo (Article)
Lenguaje:Desconocido (Unknown)
Publicado: Journal of Marine Science - ICES 2016
Materias:
Gulf of Cadiz and European anchovy; Harvest control rule; insurance; risk
Ciencias sociales; Ciencias sociales / Administración pública y ciencia militar; Ciencias sociales / Administración pública y ciencia militar / Administración de la economía y del medio ambiente; Tecnología; Tecnología / Agricultura y tecnologías relacionadas; Tecnología / Agricultura y tecnologías relacionadas / Caza, pesca, conservación;
Acceso en línea:http://babel.banrepcultural.org/cdm/ref/collection/p17054coll23/id/962
id ir-p17054coll23-962
recordtype dspace
spelling ir-p17054coll23-9622018-02-08 The economic value of environmental data: A notional insurance scheme for the European anchovy Rincón Hidalgo, Margarita María; Mumford, John; Levontin, Polina; Leach, Adrian; Ruiz, Javier Anchovy population dynamics in the Gulf of Cádiz are governed by environmental processes. Sea surface temperature, intense easterly winds, and discharges from the Guadalquivir River have been identified as key factors determining early life stage mortality in this anchovy stock. We have constructed an environment-based recruitment model that simulates the abundance of juveniles under alternative parameters representing plausible biological hypotheses. We are able to evaluate how modelling environment-based recruitment can affect stock assessment and how responding to environmental information can benefit fishery management to allow greater average catch levels through the application of harvest control rules (HCRs) based on environmental conditions. While the environment-based rules generally increase allowable catch levels the variance in catch levels also increases, detracting from the improved value based only on average yield. In addition to changes in revenue, the probability of stock collapse is also reduced by using environmental factors in HCRs. To assess the value of these management systems we simulate a notional insurance scheme, which applies a value to both average yields and uncertainty. The value of the information-driven rules can be determined by comparing the relevant premiums payable for equal levels of insurance cover on revenue within each specific management regime. We demonstrate the net value of incorporating environmental factors in the management of anchovies in the Gulf of Cádiz despite the increased variability in revenue. This could be an effective method to describe outcomes for both commercial fisheries and ecosystem management policies, and as a guide to management of other species whose dynamics are predictable based on in-season observations. Gulf of Cadiz and European anchovy; Harvest control rule; insurance; risk Ciencias sociales; Ciencias sociales / Administración pública y ciencia militar; Ciencias sociales / Administración pública y ciencia militar / Administración de la economía y del medio ambiente; Tecnología; Tecnología / Agricultura y tecnologías relacionadas; Tecnología / Agricultura y tecnologías relacionadas / Caza, pesca, conservación; 2016 Journal of Marine Science - ICES PDF Artículo ENG - Inglés; Golfo de Cádiz Colfuturo; Derechos reservados del autor http://babel.banrepcultural.org/cdm/ref/collection/p17054coll23/id/962
institution Biblioteca Virtual Banco de la República - Colecciones digitales
collection Custom
language Desconocido (Unknown)
topic Gulf of Cadiz and European anchovy; Harvest control rule; insurance; risk
Ciencias sociales; Ciencias sociales / Administración pública y ciencia militar; Ciencias sociales / Administración pública y ciencia militar / Administración de la economía y del medio ambiente; Tecnología; Tecnología / Agricultura y tecnologías relacionadas; Tecnología / Agricultura y tecnologías relacionadas / Caza, pesca, conservación;
spellingShingle Gulf of Cadiz and European anchovy; Harvest control rule; insurance; risk
Ciencias sociales; Ciencias sociales / Administración pública y ciencia militar; Ciencias sociales / Administración pública y ciencia militar / Administración de la economía y del medio ambiente; Tecnología; Tecnología / Agricultura y tecnologías relacionadas; Tecnología / Agricultura y tecnologías relacionadas / Caza, pesca, conservación;
Rincón Hidalgo, Margarita María; Mumford, John; Levontin, Polina; Leach, Adrian; Ruiz, Javier
The economic value of environmental data: A notional insurance scheme for the European anchovy
description Anchovy population dynamics in the Gulf of Cádiz are governed by environmental processes. Sea surface temperature, intense easterly winds, and discharges from the Guadalquivir River have been identified as key factors determining early life stage mortality in this anchovy stock. We have constructed an environment-based recruitment model that simulates the abundance of juveniles under alternative parameters representing plausible biological hypotheses. We are able to evaluate how modelling environment-based recruitment can affect stock assessment and how responding to environmental information can benefit fishery management to allow greater average catch levels through the application of harvest control rules (HCRs) based on environmental conditions. While the environment-based rules generally increase allowable catch levels the variance in catch levels also increases, detracting from the improved value based only on average yield. In addition to changes in revenue, the probability of stock collapse is also reduced by using environmental factors in HCRs. To assess the value of these management systems we simulate a notional insurance scheme, which applies a value to both average yields and uncertainty. The value of the information-driven rules can be determined by comparing the relevant premiums payable for equal levels of insurance cover on revenue within each specific management regime. We demonstrate the net value of incorporating environmental factors in the management of anchovies in the Gulf of Cádiz despite the increased variability in revenue. This could be an effective method to describe outcomes for both commercial fisheries and ecosystem management policies, and as a guide to management of other species whose dynamics are predictable based on in-season observations.
format Artículo (Article)
author Rincón Hidalgo, Margarita María; Mumford, John; Levontin, Polina; Leach, Adrian; Ruiz, Javier
author_facet Rincón Hidalgo, Margarita María; Mumford, John; Levontin, Polina; Leach, Adrian; Ruiz, Javier
author_sort Rincón Hidalgo, Margarita María; Mumford, John; Levontin, Polina; Leach, Adrian; Ruiz, Javier
title The economic value of environmental data: A notional insurance scheme for the European anchovy
title_short The economic value of environmental data: A notional insurance scheme for the European anchovy
title_full The economic value of environmental data: A notional insurance scheme for the European anchovy
title_fullStr The economic value of environmental data: A notional insurance scheme for the European anchovy
title_full_unstemmed The economic value of environmental data: A notional insurance scheme for the European anchovy
title_sort economic value of environmental data: a notional insurance scheme for the european anchovy
publisher Journal of Marine Science - ICES
publishDate 2016
url http://babel.banrepcultural.org/cdm/ref/collection/p17054coll23/id/962
_version_ 1682453400790237184
score 12,131701

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