Evaluating effort regulation in mixed fisheries: a Monte Carlo approach

This paper evaluates whether effort regulation could achieve the goal of protecting low-abundance species in mixed fisheries. We construct a two-species bio-economic model and compare the stock abundance ratio in the end of the fishing season with the ratio prior to the fishing. Fishers’ profit maximization problem is governed by three key factors: (i) the overall efficiency of catching different species (catchability), (ii) the price of...