Green Accounting for a Commercial Fishery, Robert D. Cairns


Green Accounting for a Commercial Fishery By Robert D. Cairns ABSTRACT The theory of extensions to the national accounts (green accounting) is expressed in terms of models in which wealth is being explicitly maximized. For the fishery, the central issue is valuation when the policy being followed is inefficient. This paper begins the task of making such valuations for commercial products of a fishery. Capacity is limited by investment in fishing boats, and depreciation of the boats as well as depletion of the fish must be considered. Depletion of a nonoptimal fishery can be evaluated, and is always greater than depletion of an optimal fishery with the same stocks of fish and boats. Statistical requirements are found and examples are given on how to apply them. KEYWORDS: green accounting, fishery, non-optimality, capacity, depletion View Asset Markets, Options, and Green Accounting Session

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