ABSTRACT
This is an applied empirical analysis of the exploitation of the North-east Atlantic cod found in the Barents Sea; the focus is on joint (cooperative) versus divided (non-cooperative) management of the stock. The North-east Atlantic cod stock (ANCS) is shared between Norway and Russia (and to a lesser extent, third countries), with approximately 45% of the present total allowable catch (TAC) to each of the two parties, and 10% to third parties. Over the past decades 45–75% of the TACs have been taken by trawlers (ICES, 1996). Russia and third countries use mainly trawl, while Norway employs mainly coastal vessels and trawl. Hence, the bulk of the ANCS is landed by coastal and trawler fishing vessels. Coastal vessels target mature cod of age groups 7 and above, while trawlers catch juveniles and mature cod of age groups 4 and above (Hannesson, 1993b). As a result of this difference, interesting game theoretic analysis can be carried out to investigate the consequences of the action of one class of vessels on (i) the economic benefit of the other; and (ii) the stock sustainability of the resource.
