The Journal of Fisheries Business Administration (수산경영론집)

The Korean Society of Fisheries Business Administration (한국수산경영학회)
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A Strategy for Optimal Production Management of Multi-Species Fisheries using a Portfolio Approach

포트폴리오 기법을 이용한 복수어종의 최적 생산관리 전략

  • Kim, Do-Hoon (Department of Marine Business and Economics, Pukyong National University)
  • 김도훈 (부경대학교 해양수산경영학과)
  • Received : 2014.05.26
  • Accepted : 2014.06.27
  • Published : 2014.06.30
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Abstract

This study aimed to examine the applicability of a portfolio approach to the ecosystem-based fisheries management targeting the large purse seine fishery. Most fisheries are targeting multispecies and species are biologically and technically interacted each other. It enables a portfolio approach to be applied to find optimal production of each species through expected returns and risk analyses. Under specific assumptions on the harvest quota by species, efficient risk-return frontiers were generated and they showed a combination of optimal production level. Comparisons between portfolio and actual production provided a useful information for targeting strategy and management. Results also showed the possibility of effective multispecies fisheries management by imposing constraints on each species such as total allowable catch quotas.

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References

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