ADVANCES IN BIO-ECONOMIC MODELLING

 The FISHRENT model was developed as a part of the EU funded study 'Remuneration of spawning stock biomass'. The model has the following characteristics:

• Integration of simulation of different management strategies and optimisation of selected objective variables. 
• Combination of output- and input-driven management policies.
• Flexible number of species and segments to analyse multi-species/multi-fleet fisheries.
• Link to available economic and biological data allows empirical applications.
• Balanced composition between various components: biology-economics-policy.
• Dynamic behaviour over any number of years, including stock-growth, investment and effort functions, allows simulation of adjustment paths.
• Flexibility for applications of various types of relations (e.g. different stock-growth functions, approaches to payment for access, etc.).

The model contains:

• Options for the collection of rent (payment for access). 
• Large number of features, including parameter for technological progress, discards of sized and undersized fish, various options for simulation of investments, etc. 
• Six modules: biologicy, economy, interface, market, behaviour and policy.

Use of a well-known language (Excel) allows a broad introduction and accessibility to different users.

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