A recent article appearing in the scientific journal Nature lead by Dr. Branch has sparked new debate among fisheries scientists regarding how to best measure biodiversity in global fisheries. The Fisheries Economics Research Unit’s director, Dr. Sumaila summarizes what this debate may mean for the economics of fisheries management in a follow-up comment to the article.
Dr. Sumaila comments that the debate has important implications for optimal management of world fisheries. In terms of game theory the situation could be summarized as:
| Fish stocks healthy | Fish stocks decline | |
| Status quo | no unnecessary costs | biodiversity eroded, fish supply decreases |
| Management doubled | cost of management wasted | additional management expenditure needed |
If world fish stocks are on the decline, as has been often suggested, then failing to increase effective management will reduce ocean biodiversity and fish supplies which many rely on for nourishment. Likewise, if fish stocks are healthy then additional investment in fisheries management will be wasted but we will still have oceans rich in biodiversity. Read the full article by Dr. Branch and Dr. Sumaila’s comment for more on this topic.