Fisheries Economics & Policy: Maximum Economic Yield

This video is a part of Conservation Strategy Fund's collection of environmental economic lessons and was made possible thanks to the support of the Gordon and Betty Moore Foundation and the Marcia Brady Tucker Foundation. This series is for individuals who want to learn - or review - the basic economics of conservation. This video covers maximum economic yield in fishing and fishing quotas. We'll compare growth rates and fish populations and look at where on the growth curve the population reaches sustainability. We'll also introduce the concepts of fishing effort, economic rent and maximum sustainable yields.
To follow this series, subscribe to our KZbin channel. For more information on these and other trainings from Conservation Strategy Fund, check out: www.conservatio...
For copyright information on all sound effects, see www.conservatio...

[@t00b3z]

ah man, life saver. never managed to completely grasp this concept when its explained by "boring" lecturers

[@ConservationStrategyFund]

t00b3z I'm pleased to hear our video helped you grasp MEY. We're doing our best to provide entertaining economics lessons for those who fell asleep during class. ;)

[@klarad8921]

@@ConservationStrategyFund +1 it saved me pretty much time of reading just to remember what MSY was all about, pfeew... Thanks a lot!

[@ChoTheGrey]

Exam in 5 hours....feeling confident cause of you, thank you!

[@technogandhi]

Best line.. "Pffftt.. scientists, with their math and their hipster glasses.."

[@ConservationStrategyFund]

+technogandhi We couldn't agree more. Ha!

[@unlimitedpower978]

These videos are outstanding. One of the challenges of economics as it relates to the general public is that they don't understand it. Economics does not have what physics has in, for example, Neil Degrasse Tyson who makes physics and astronomy a far more approachable topic for the public. These videos bring a similar, simplified yet thorough approach. High praise to you, sir.

[@ConservationStrategyFund]

We couldn't agree more! We're happy to be contributing to a missing piece in the field. Thanks for watching.

[@selinsaki6217]

Never thought I could find such well-explained videos when I came across Individual Tradable Quotas topic in Microeconomics. Thanks a lot.

[@ohwowcoolvideoz]

these are absolutely amazing. you saved my fisheries exam grade. thank you

[@ConservationStrategyFund]

+ohwowcoolvideoz You're very welcome!

[@channahpi1282]

My professor recommended us this video. I'm happy, that I watched it! Thank you!

[@themoralshow902]

Fans from Sri Lanka ❤️🇱🇰🤘

[@WijthaGayan]

LK

[@spikemanra]

@9:58 I'd also like to point out that the cost won't stay the same! The fuel and crew's pay might just increase linearly, but engines have service intervals, equipment might need more repair and consequently the ship's efficiency might fall as the same job is attempted being done in less optimal conditions. The conditions onboard might also suffer; Just look at the difference in maintenance between some Faroese vessels that fish year round versus their Norwegian/Danish counterparts with less quotas. Not saying one type of management is better or worse, they are just different approaches to different economic realities.

[@bangitem5894]

terima kasih ada video ini, bisa membantu kami melihat tingkat degradasi suatu danau, sehingga bisa mengambil langkah restocking sesuai dengan kebutuhan

[@ahmedmeeran8607]

Man that was brilliant! Awesome video and crisp explanation. Much appreciated !

[@yannickdebruyn2001]

Thank you, this is a really good alternative. I think i wasted a lot of time trying to understand it from my books.

[@ConservationStrategyFund]

+fcagod 55 We're sorry to hear that...but very happy to hear that you found us and we could help!

[@petragonzalez7868]

You are genius. Period. Wow, What a class act!

[@WesleyChauya]

best tutorial ever

[@xLucaax]

This video was great! I had fun in watching this video and it is all clear to me now! Thank you.

[@ConservationStrategyFund]

+xLucaax We're so happy we could help!

[@kriptoniteXD]

This channel deserve more views!

[@ConservationStrategyFund]

+kriptoniteXD We agree!! Spread the word!

[@franciscocognigni2509]

Absolutley awsome, this video is by far the best thing that happened to me while studying this subject. Thank you very much, greetings from Argentina!

[@howcanhowler4766]

i bet 99% of the viewers are university students who cant understand their economics lecturers so they had to youtube the concepts hahahahahahahhahahaha. Definitely me. I understood more from this video than I did spending hours reading 52 pages from the textbook that was given to us in the first 2 weeks

[@chanakyasinha8046]

Fishes popping up on graphs are satisfying

[@cheriew4385]

these videos are amazing thank you so much!!! reasoning is clear and intuitive and the pace is just right :)

[@ratpyramid]

This just make sooooooo much sense! It's amazing.

[@Imaniconnie]

Thank you soooo much for this! Totally cleared up a lot of concepts surrounding MSY. One suggestion: instead of lumping women into 'fishermen' replace the noun with 'fisherpeople.' Much appreciated by us women. Thanks again for the great, colorful explanation, I'm marginally more confident for my econ exam!

[@ConservationStrategyFund]

+Imaniconnie Happy we could help!

[@lmsidk]

Fisherpeople? Oh come on...

[@adyllblu4872]

@@lmsidk 😂😂😂

[@Sophiec166]

This is fantastically explained. Great video

[@sjyothis]

Thanks, Excellent Video

[@moupatte]

Great video, very nice visual with those little fishes.

[@isratjahanema6612]

😍😍😍, awesome... Thank you, sir..

[@OG.551.98]

Thanks, it's a great explanation. Sustainability student - IDC Israel

[@ConservationStrategyFund]

Really happy to hear it was useful, Oren. Best of luck in your studies.

[@sabawoonrahimi9319]

Thanks from your brilliant explanation, it helped me a lot with my Exam. Appreciate that.

[@ConservationStrategyFund]

+Sabawoon Rahimi Happy to hear we could help with your exam!

[@yveshelsen5488]

Thank You, can you also give the formula? This is the best envorimental economics site!

[@ConservationStrategyFund]

+Yves Helsen This link may be helpful for you (and includes the formula): www.fao.org/docrep/003/x6844e/X6844E02.HTM Thanks for watching!

[@ValeriaSchwarz]

great work! thank you!

[@agustinsans2902]

What bibliography did you use to make this video?, i want to learn more

[@obamamuda5277]

You are awesome, well explained

[@Parasabvi]

bro our teacher have given your video as a source of study and asked 7 question out of your first 3 videos of fishery economics and i am completely exhausted due to seeing your videos repeatedly to get the appropriate answer :(

[@haleemamisal2432]

Can this method/concept be used for harvesting timber from forests?

[@TenseiShitaraSuraimuDattaKen]

Can you explain what the formula for MSY is? Is it dN/dt = rN(1-(N/K)) - H ........or is it rN(1-(N/K)) = H If we only are concerned with how much we can harvest, do we only care about the first formula? For example, if the initial population of fish for a particular year is 368, should we only use the first formula (dN/dt = rN(1-(N/K)) - H) because we only want to see see how much we are taking out of the population?

[@matteosposato9448]

Whatever the person who created the animations is earning, it is not enough.

[@noofalqamshuii62]

from where I can get this graphs ?

[@soupy4099]

9:52 Anyone have the actual equation? EDIT: I believe it's just taking the derivative of the red line and setting it equal to the derivative of the green line, then solving for x.

[@prasadmhatre6398]

Sir, I want to know what software you have used to make such video ?

[@rubiniosity]

Great video Jesse (This Place). i really like your videos , because you always manage to make it easy to understand and still very informative . also the animation is simple but still unambiguous . (y)

[@ConservationStrategyFund]

We're so happy you like the videos! Thanks for checking them out.

[@xoom1712]

Conservation Strategy Fund Thanks so much for making your animations! I'm doing a short film on common access resources and your videos and case studies are really helping me out. Please keep making these.

[@xoom1712]

Conservation Strategy Fund If possible could you kindly enlighten me on the software you have used to animate your videos? Thanks.

[@ScratchNSniffff]

Jason Brody Hey, for these I mostly use adobe Photoshop to draw the images then animate them together in Adobe After Effects. Then do sound and editing in Adobe Premiere.

[@niyadai1880]

awesome video!! great explanation and neat presentation:))) Also your voice is so soothing ahhh enjoyed this lecture!!

[@theodorosliakos3840]

I have to draw diagrams where an open access renewable resource is harvested below the social optimun and 2nd above the social optimum but without becoming completely extinct... I have not clarify which is the social optimum in open access the point where profit is zero and nowone can enter the fishery or the point that we can have the maximum sustainable yield?

[@giorgiacecchinato9449]

so. well. explained

[@krishankumar-eq9np]

plz provided pdf

[@shaficihussein9651]

thank you

[@basketvector7311]

CPUE on the grand banks did not remain high because technology was increasing, it remained high because of range collapse.

[@elarrecho96]

Good video

[@bensteyn605]

Really helpful video! Would this be the Gordon-Schaefer model?

[@ConservationStrategyFund]

Ben Steyn The graph you see starting at around the 6.18 minute mark is indeed based on the classic Gordon-Schaefer model that presents the equilibrium total revenue (TR) and total cost (TC) in a fishery which has a logistical growth function. Hope this helps.

[@mehakknarang9928]

love it. Thank you.

[@gaelminville]

Wonderful content, i love it. How would you call this subject?

[@ronaleemckenzie6979]

Fisheries Management

[@thismoment9897]

thak you so much

[@beckwilde]

So at the point where marginal revenue = marginal cost and they arent gaining profits anymore... is it called the bioeconomic equilibrium?

[@soupy4099]

OH MY GOD IT'S DERIVATIVES!

[@mpfilgueiras]

I believe the problem with the codfish was a mistake in the mathmatical model.

[@mpfilgueiras]

Made by scientists.

[@mpfilgueiras]

"In 1987, the Newfoundland Inshore Fisheries Association commissioned an independent analysis of the cod stocks, and of the DFO science (Harris, 1998). The commission's findings, the Alverson report, showed that the "assessments of abundance" were wrong. They found that fish mortality was higher than estimated, that fishermen were catching high numbers of the fish of the cohort that the DFO was counting on for reproduction, and that there was a mathematical fault in the model in use, which got expanded over the years (Alverson, 1987). Alverson himself said, "it took several years to find it [the mathematical fault] and by then, the stocks were on the downturn. I think it came as a shock to all of the fishermen and some of the scientists" (Harris, 1998, p. 104)."

[@ndatitangitomasnalukaku8740]

Very helpful but you spoke so so fast..i kept pausing to grasp and absorb this bioeconomic theory..thanks alot anyway...

[@niranwarin1794]

Can i translate to Thai languages and then distribution for another who interesting?

[@ConservationStrategyFund]

Hi Niran, please contact the CSF communications manager, Niki Gribi ([e-mail]) with this request. Thanks for watching!

[@niranwarin1794]

Conservation Strategy Fund Thank you for giving detail to me

[@niranwarin1794]

thank you so much.

[@chanakyasinha8046]

So effort is catch per unit time

[@ayaayesh9567]

And here i am.. Studying fisheries and understand nothing.. 😂😭

[@samsam18200]

more government is never the solution. artificial price interference will only cause bigger problems.

[@davewarwicker2512]

Just to spread some knowledge. The North Sea is empty because it didn't belong to anyone. It originally belonged to the UK fishing fleet, but then got opened up to the EU after which Spanish and French boats ran rampage.

[@ConservationStrategyFund]

+Dave Warwicker Thanks, Dave!

[@RavenCammenga]

So you are saying the dutch, never fished the North sea only after the EU started?

[@kerryfoster1]

Not only do you need to take action immediately catches decrease, but also when the average size decreases. Fish populations are part of an entire ecosystem. If you take out one species like cod, which are big fish and reproduce in their MILLIONS you will immediately upset the entire balance of the sea. it will then take decades of non fishing for the ecosystem to re- balance. All this is entirely lost on the Moronic fishermen who just think you can turn fish into dollars forever. it happens everywhere not just here. pay them a fixed wage for catching at a certain level. once the level is reached , STOP FISHING. It isn't ROCKET SCIENCE.