@article{ ISI:000282996400002,
Author = {Hoshino, Eriko and Hillary, Richard M. and Pearce, John},
Title = {{Economically Optimal Management Strategies for the South Georgia
   Patagonian Toothfish Fishery}},
Journal = {{MARINE RESOURCE ECONOMICS}},
Year = {{2010}},
Volume = {{25}},
Number = {{3}},
Pages = {{265-280}},
Abstract = {{The fishery for Patagonian toothfish around the island of South Georgia
   in the Southern Ocean is a profitable operation targeting a high-value,
   slow-growing species. We substituted the complex Bayesian age-structured
   model currently used for assessments with a Schaefer production model,
   which performs equally well as an operating model for management
   strategy evaluation. Our analysis demonstrated that optimum long-term
   profitability using a discount rate of 2\% would be achieved at a
   biomass of 59\% of initial biomass, which is higher than the target
   biomass of 50\% incorporated into the current management strategy and at
   a reduction in effort of approximately 19\%. A number of potential
   effort reduction strategies are investigated, several of which would
   achieve better conservation objectives and higher future profits from
   the fishery than those predicted using the current management strategy.}},
Publisher = {{MRE FOUNDATION, INC}},
Address = {{PO BOX 1828, KINGSTON, RI 02881 USA}},
Type = {{Article}},
Language = {{English}},
Affiliation = {{Hoshino, E (Reprint Author), Univ London Imperial Coll Sci Technol \& Med, Div Biol, Silwood Pk, Ascot SL5 7PY, Berks, England.
   Hoshino, Eriko; Hillary, Richard M., Univ London Imperial Coll Sci Technol \& Med, Div Biol, Ascot SL5 7PY, Berks, England.
   Hillary, Richard M., CSIRO Marine \& Atmospher Res, Hobart, Tas 7001, Australia.
   Pearce, John, MRAG Ltd, London W1J 5PN, England.}},
ISSN = {{0738-1360}},
Keywords = {{Management strategy evaluation; bioeconomic modelling; uncertainty;
   Patagonian toothfish}},
Keywords-Plus = {{STOCK; OVEREXPLOITATION; POPULATION}},
Research-Areas = {{Business \& Economics; Environmental Sciences \& Ecology; Fisheries}},
Web-of-Science-Categories  = {{Economics; Environmental Studies; Fisheries}},
Author-Email = {{e.hoshino06@imperial.ac.uk
   Rich.Hillary@csiro.au
   j.pearce@mrag.co.uk}},
ResearcherID-Numbers = {{Hillary, Richard/L-3300-2013
   Hoshino, Eriko/N-7557-2013}},
ORCID-Numbers = {{Hoshino, Eriko/0000-0001-7110-4251}},
Number-of-Cited-References = {{28}},
Times-Cited = {{5}},
Usage-Count-Last-180-days = {{4}},
Usage-Count-Since-2013 = {{11}},
Journal-ISO = {{Mar. Resour. Econ.}},
Doc-Delivery-Number = {{664XD}},
Unique-ID = {{ISI:000282996400002}},
OA = {{No}},
DA = {{2017-08-17}},
}

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Our analysis demonstrated that optimum long-term profitability using a discount rate of 2% would be achieved at a biomass of 59% of initial biomass, which is higher than the target biomass of 50% incorporated into the current management strategy and at a reduction in effort of approximately 19%. A number of potential effort reduction strategies are investigated, several of which would achieve better conservation objectives and higher future profits from the fishery than those predicted using the current management strategy.","publisher":"MRE FOUNDATION, INC","address":"PO BOX 1828, KINGSTON, RI 02881 USA","language":"English","affiliation":"Hoshino, E (Reprint Author), Univ London Imperial Coll Sci Technol & Med, Div Biol, Silwood Pk, Ascot SL5 7PY, Berks, England. Hoshino, Eriko; Hillary, Richard M., Univ London Imperial Coll Sci Technol & Med, Div Biol, Ascot SL5 7PY, Berks, England. Hillary, Richard M., CSIRO Marine & Atmospher Res, Hobart, Tas 7001, Australia. 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Our analysis demonstrated that optimum long-term\n profitability using a discount rate of 2\\% would be achieved at a\n biomass of 59\\% of initial biomass, which is higher than the target\n biomass of 50\\% incorporated into the current management strategy and at\n a reduction in effort of approximately 19\\%. A number of potential\n effort reduction strategies are investigated, several of which would\n achieve better conservation objectives and higher future profits from\n the fishery than those predicted using the current management strategy.}},\nPublisher = {{MRE FOUNDATION, INC}},\nAddress = {{PO BOX 1828, KINGSTON, RI 02881 USA}},\nType = {{Article}},\nLanguage = {{English}},\nAffiliation = {{Hoshino, E (Reprint Author), Univ London Imperial Coll Sci Technol \\& Med, Div Biol, Silwood Pk, Ascot SL5 7PY, Berks, England.\n Hoshino, Eriko; Hillary, Richard M., Univ London Imperial Coll Sci Technol \\& Med, Div Biol, Ascot SL5 7PY, Berks, England.\n Hillary, Richard M., CSIRO Marine \\& Atmospher Res, Hobart, Tas 7001, Australia.\n Pearce, John, MRAG Ltd, London W1J 5PN, England.}},\nISSN = {{0738-1360}},\nKeywords = {{Management strategy evaluation; bioeconomic modelling; uncertainty;\n Patagonian toothfish}},\nKeywords-Plus = {{STOCK; OVEREXPLOITATION; POPULATION}},\nResearch-Areas = {{Business \\& Economics; Environmental Sciences \\& Ecology; Fisheries}},\nWeb-of-Science-Categories = {{Economics; Environmental Studies; Fisheries}},\nAuthor-Email = {{e.hoshino06@imperial.ac.uk\n Rich.Hillary@csiro.au\n j.pearce@mrag.co.uk}},\nResearcherID-Numbers = {{Hillary, Richard/L-3300-2013\n Hoshino, Eriko/N-7557-2013}},\nORCID-Numbers = {{Hoshino, Eriko/0000-0001-7110-4251}},\nNumber-of-Cited-References = {{28}},\nTimes-Cited = {{5}},\nUsage-Count-Last-180-days = {{4}},\nUsage-Count-Since-2013 = {{11}},\nJournal-ISO = {{Mar. 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