Economic Analysis on Management of TAC Regarding Sakura Shrimp Fishery

The total allowable catch of Sakura shrimp on a basis of stopping biological overfishing was estimated at TAC = 590,751 kg/season. According to this TAC, three scenarios with varied management strengths were proposed to recover this renewable resource and to prevent the economic overfishing at different paces. As a result, the economic efficiencies as compared to that of the current management will be increased to 132%, 133%, and 134% for scenarios 1, 2 and 3, respectively. All the bioeconomic parameters estimated from the dynamic equilibrium ecosystem will be definitely traced and reevaluated yearly in future to manage the resource efficiently. Additionally, the cost-return structure of Sakura shrimp fishery is absolutely dynamic within a socioeconomic environment. For instance, the government policies (such as importing foreign labor, fuel subsidy, intensity of resource conservation, etc) and the demand and supply of market will no doubt affect the cost-return structure, in turn, which will force the total allowable catch and the number of allowable vessels to be adjusted. The fishery as an integrated mixture has a tremendous potential for application to human affairs, since real-world situations almost always involve a biological component and a socioeconomic and political component. The three cannot be dealt with separately if one expects to find lasting solutions to critical problems.