Bioeconomic Analysis of Habitat-Fishery Connections: Fishing on Cold Water Coral Reefs
构建生物经济模型研究冷水珊瑚栖息地与渔业的关系，发现珊瑚作为偏好栖息地时鱼和珊瑚在成本节约上可替代，而作为必需栖息地时则存在成本和增长效应的竞争。
We develop a bioeconomic model to study habitat-fishery connections such as cold water coral habitats, which are negatively affected by bottom trawling but remain unaffected by stationary gear harvest. Using dynamic optimization, we derive <i>optimum optimorum</i> values for both fish and cold water coral stocks. We find that when coral is a preferred habitat, the fish and coral stocks become substitutes in terms of unit cost savings of harvest, while an essential habitat implies competing cost and growth effects. Data are from the North East Arctic cod fishery, and the results are robust and in line with our theoretical prediction. <i></i>