Optimal Management of the Iceland-Greenland Transboundary Cod Stock

Source - Journal of Northwest Atlantic Fishery Science, Volume 19: 21-29
ISSN-0250-6408

Christensen, S. 1996. Optimal Management of the Iceland-Greenland Transboundary Cod Stock. J. Northw. Atl. Fish. Sci. 19: 21-29. https://doi.org/10.2960/J.v19.a2

Atlantic cod (Gadus morhua) in Icelandic waters, in the Davis Strait, and east and southeast of Greenland is a transboundary stock which inhabits both the Greenlandic and the Icelandic Fishing Zones. In some years large numbers of eggs, larvae and juvenile cod are carried from the spawning grounds in Icelandic waters to Greenland waters where they settle and form the basis for a fishery in the following years. The Icelandic component of the West Greenland cod stocks displays homing behaviour and returns to the Icelandic spawning grounds when they reach maturity, at the age of about 5 years. In the present paper, an optimization scheme for this transboundary cod stock is suggested, including a standard bioeconomic model of the fisheries and simple game theory. Simulations indicate that if the resource is considered to be an entirely migratory resource, both the total catch volume and the net present value (NPV) of the resource rent are maximized when all landings of the stock are made from the Icelandic zone. The results are discussed relative to year-class size and different management consideration for cooperation among the parties.

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Language - English
Publisher - Northwest Atlantic Fisheries Organization (NAFO), Dartmouth, N.S., Canada
Publication Date - September 1996
Publication Type - Journal Article

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