Optimal fishery management under environmental uncertainties

The development of a fish stock highly depends on changing and often unpredictable environmental conditions. Thus, stochastic stock growth has to be taken into account when determining optimal fishery policies. In my dissertation I examine how the optimal fishery management will be influenced by uncertain environmental conditions. I determine optimal harvesting strategies in a stochastic fishery model in comparison to a deterministic benchmark model as well as under different degrees of risk aversion among fishermen and consumers. In addition I demonstrate how optimal fishery management will change under the concrete environmental uncertainty of evolving ocean acidification.