@article{ ISI:000379539900005,
Author = {Da-Rocha, Jose-Maria and Mato-Amboage, Rosa},
Title = {{On the Benefits of Including Age-Structure in Harvest Control Rules}},
Journal = {{ENVIRONMENTAL \& RESOURCE ECONOMICS}},
Year = {{2016}},
Volume = {{64}},
Number = {{4}},
Pages = {{619-641}},
Month = {{AUG}},
Abstract = {{This paper explores the benefits of including age structure in the
   control rule (HCR) when decision makers regard their (age-structured)
   models as approximations. We find that introducing age structure into
   the HCR reduces both the volatility of the spawning biomass and the
   yield. Although the benefits are lower at a fairly imprecise level,
   there are still major advantages for the actual precision with which the
   case study is assessed. Moreover, we find that when age-structure is
   included in the HCR the relative ranking of different policies in terms
   of variance in biomass and yield does not differ. These results are
   shown both theoretically and numerically by applying the model to the
   Southern Hake fishery.}},
Publisher = {{SPRINGER}},
Address = {{233 SPRING ST, NEW YORK, NY 10013 USA}},
Type = {{Article}},
Language = {{English}},
Affiliation = {{Da-Rocha, JM (Reprint Author), Univ Vigo, Dept Fundamentos Anal Econ, Campus Univ Lagoas Marcosende, Vigo 36200, Spain.
   Da-Rocha, JM (Reprint Author), ITAM, Ctr Invest Econ, Ave Camino Santa Teresa 930, Mexico City 10700, DF, Mexico.
   Da-Rocha, Jose-Maria, Univ Vigo, Dept Fundamentos Anal Econ, Campus Univ Lagoas Marcosende, Vigo 36200, Spain.
   Da-Rocha, Jose-Maria, ITAM, Ctr Invest Econ, Ave Camino Santa Teresa 930, Mexico City 10700, DF, Mexico.
   Mato-Amboage, Rosa, York Univ, Dept Environm, Heslington Rd, York YO10 5DD, N Yorkshire, England.}},
DOI = {{10.1007/s10640-015-9891-3}},
ISSN = {{0924-6460}},
EISSN = {{1573-1502}},
Keywords = {{Management strategy evaluation; Harvest control rules; Reference points;
   Stochastic age structured model}},
Keywords-Plus = {{NORTHERN PRAWN FISHERY; MANAGEMENT STRATEGIES; DYNAMICS}},
Research-Areas = {{Business \& Economics; Environmental Sciences \& Ecology}},
Web-of-Science-Categories  = {{Economics; Environmental Studies}},
Author-Email = {{jmrocha@uvigo.es
   rma523@york.ac.uk}},
Funding-Acknowledgement = {{European Commission (MYFISH) {[}FP7-KBBE-2011-5, 289257]; European
   Commission (BIOTRIANGLE); Spanish Ministry of Economy and
   Competitiveness {[}ECO2012-39098-C06-00]}},
Funding-Text = {{For helpful comments and suggestions we thank Cathy Dichmont, Pamela
   Mace, Andre Punt, Anna Rindorf and seminar and conference participants
   at Knowledge Based BioEconomy (KBBE) workshop on MICE models,
   multispecies models, and harvest strategies for lowinformation stocks at
   Victoria University (New Zealand), the 5th WCERE (World Congress of
   Environmental and Resource Economics) and the ICES Annual Science
   Conference 2014. All remaining errors are our own. Jose Maria Da Rocha
   gratefully acknowledges the financial support from the European
   Commission (MYFISH, FP7-KBBE-2011-5, n 289257 and BIOTRIANGLE) and the
   Spanish Ministry of Economy and Competitiveness (ECO2012-39098-C06-00).}},
Number-of-Cited-References = {{32}},
Times-Cited = {{0}},
Usage-Count-Last-180-days = {{2}},
Usage-Count-Since-2013 = {{3}},
Journal-ISO = {{Environ. Resour. Econ.}},
Doc-Delivery-Number = {{DQ9OT}},
Unique-ID = {{ISI:000379539900005}},
OA = {{No}},
DA = {{2017-08-17}},
}

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We find that introducing age structure into the HCR reduces both the volatility of the spawning biomass and the yield. Although the benefits are lower at a fairly imprecise level, there are still major advantages for the actual precision with which the case study is assessed. Moreover, we find that when age-structure is included in the HCR the relative ranking of different policies in terms of variance in biomass and yield does not differ. These results are shown both theoretically and numerically by applying the model to the Southern Hake fishery.","publisher":"SPRINGER","address":"233 SPRING ST, NEW YORK, NY 10013 USA","language":"English","affiliation":"Da-Rocha, JM (Reprint Author), Univ Vigo, Dept Fundamentos Anal Econ, Campus Univ Lagoas Marcosende, Vigo 36200, Spain. Da-Rocha, JM (Reprint Author), ITAM, Ctr Invest Econ, Ave Camino Santa Teresa 930, Mexico City 10700, DF, Mexico. Da-Rocha, Jose-Maria, Univ Vigo, Dept Fundamentos Anal Econ, Campus Univ Lagoas Marcosende, Vigo 36200, Spain. Da-Rocha, Jose-Maria, ITAM, Ctr Invest Econ, Ave Camino Santa Teresa 930, Mexico City 10700, DF, Mexico. Mato-Amboage, Rosa, York Univ, Dept Environm, Heslington Rd, York YO10 5DD, N Yorkshire, England.","doi":"10.1007/s10640-015-9891-3","issn":"0924-6460","eissn":"1573-1502","keywords":"Management strategy evaluation; Harvest control rules; Reference points; Stochastic age structured model","keywords-plus":"NORTHERN PRAWN FISHERY; MANAGEMENT STRATEGIES; DYNAMICS","research-areas":"Business & Economics; Environmental Sciences & Ecology","web-of-science-categories":"Economics; Environmental Studies","author-email":"jmrocha@uvigo.es rma523@york.ac.uk","funding-acknowledgement":"European Commission (MYFISH) [FP7-KBBE-2011-5, 289257]; European Commission (BIOTRIANGLE); Spanish Ministry of Economy and Competitiveness [ECO2012-39098-C06-00]","funding-text":"For helpful comments and suggestions we thank Cathy Dichmont, Pamela Mace, Andre Punt, Anna Rindorf and seminar and conference participants at Knowledge Based BioEconomy (KBBE) workshop on MICE models, multispecies models, and harvest strategies for lowinformation stocks at Victoria University (New Zealand), the 5th WCERE (World Congress of Environmental and Resource Economics) and the ICES Annual Science Conference 2014. All remaining errors are our own. Jose Maria Da Rocha gratefully acknowledges the financial support from the European Commission (MYFISH, FP7-KBBE-2011-5, n 289257 and BIOTRIANGLE) and the Spanish Ministry of Economy and Competitiveness (ECO2012-39098-C06-00).","number-of-cited-references":"32","times-cited":"0","usage-count-last-180-days":"2","usage-count-since-2013":"3","journal-iso":"Environ. Resour. 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Moreover, we find that when age-structure is\n included in the HCR the relative ranking of different policies in terms\n of variance in biomass and yield does not differ. These results are\n shown both theoretically and numerically by applying the model to the\n Southern Hake fishery.}},\nPublisher = {{SPRINGER}},\nAddress = {{233 SPRING ST, NEW YORK, NY 10013 USA}},\nType = {{Article}},\nLanguage = {{English}},\nAffiliation = {{Da-Rocha, JM (Reprint Author), Univ Vigo, Dept Fundamentos Anal Econ, Campus Univ Lagoas Marcosende, Vigo 36200, Spain.\n Da-Rocha, JM (Reprint Author), ITAM, Ctr Invest Econ, Ave Camino Santa Teresa 930, Mexico City 10700, DF, Mexico.\n Da-Rocha, Jose-Maria, Univ Vigo, Dept Fundamentos Anal Econ, Campus Univ Lagoas Marcosende, Vigo 36200, Spain.\n Da-Rocha, Jose-Maria, ITAM, Ctr Invest Econ, Ave Camino Santa Teresa 930, Mexico City 10700, DF, Mexico.\n Mato-Amboage, Rosa, York Univ, Dept Environm, Heslington Rd, York YO10 5DD, N Yorkshire, England.}},\nDOI = {{10.1007/s10640-015-9891-3}},\nISSN = {{0924-6460}},\nEISSN = {{1573-1502}},\nKeywords = {{Management strategy evaluation; Harvest control rules; Reference points;\n Stochastic age structured model}},\nKeywords-Plus = {{NORTHERN PRAWN FISHERY; MANAGEMENT STRATEGIES; DYNAMICS}},\nResearch-Areas = {{Business \\& Economics; Environmental Sciences \\& Ecology}},\nWeb-of-Science-Categories = {{Economics; Environmental Studies}},\nAuthor-Email = {{jmrocha@uvigo.es\n rma523@york.ac.uk}},\nFunding-Acknowledgement = {{European Commission (MYFISH) {[}FP7-KBBE-2011-5, 289257]; European\n Commission (BIOTRIANGLE); Spanish Ministry of Economy and\n Competitiveness {[}ECO2012-39098-C06-00]}},\nFunding-Text = {{For helpful comments and suggestions we thank Cathy Dichmont, Pamela\n Mace, Andre Punt, Anna Rindorf and seminar and conference participants\n at Knowledge Based BioEconomy (KBBE) workshop on MICE models,\n multispecies models, and harvest strategies for lowinformation stocks at\n Victoria University (New Zealand), the 5th WCERE (World Congress of\n Environmental and Resource Economics) and the ICES Annual Science\n Conference 2014. 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