Reconciling yield stability with international fisheries agencies precautionary preferences: the role of non constant discount factors in age structured models

International fisheries agencies recommend exploitation paths that satisfy two features. First, for precautionary reasons exploitation paths should avoid high fishing mortality in those fisheries where the biomass is depleted to a degree that jeopardise the stock's capacity to produce the Maximum Sustainable Yield (MSY). Second, for economic and social reasons, captures should be as stable (smooth) as possible over time. In this article we show that a conflict between these two interests may occur when seeking for optimal exploitation paths using age structured bioeconomic approach. Our results show that this conflict be overtaken by using non constant discount factors that value future stocks considering their relative intertemporal scarcity.

Marketing de la moda. Condicionantes y claves de éxito

El presente trabajo analiza algunas de las claves más importantes de la comercialización de la moda, actualmente condicionada por los muchos e importantes cambios experimentados en el mercado. Entre los que más han afectado a esta industria, destacan los avances tecnológicos, el nuevo comportamiento del consumidor o las nuevas formas de distribución. Se muestran algunas de las diferentes estrategias y herramientas que han adoptado las marcas para la comercialización de los productos, teniendo en cuenta los gustos y preferencias de los consumidores. Finalmente, se aborda el efecto que ha tenido la aparición de los blogs para la venta de moda, gracias a entrevistas realizadas a personas influyentes en este ámbito.

The relationships between fish assemblages and the amount of bottom horizontal beam exposed at California oil platforms: fish habitat preferences at man-made platforms and (by inference) at natural reefs

Between 1995 and 2002, we surveyed fish assemblages at seven oil platforms off southern and central California using the manned research submersible Delta. At each platform, there is a large horizontal beam situated at or near the sea floor. In some instances, shells and sediment have buried this beam and in other instances it is partially or completely exposed. We found that fish species responded in various ways to the amount of exposure of the beam. A few species, such as blackeye goby (Rhinogobiops nicholsii), greenstriped rockfish (Sebastes elongatus), and pink seaperch (Zalembius rosaceus) tended to avoid the beam. However, many species that typically associate with natural rocky outcrops, such as bocaccio (S. paucispinis), cowcod (S. levis), copper (S. caurinus), greenblotched (S. rosenblatti), pinkrose (S. simulator) and vermilion (S. miniatus) rockfishes, were found most often where the beam was exposed. In particular, a group of species (e.g., bocaccio, cowcod, blue (Sebastes mystinus), and vermilion rockfishes) called here the “sheltering habitat” guild, lived primarily where the beam was exposed and formed a crevice. This work demonstrates that the presence of sheltering sites is important in determining the species composition of man-made reefs and, likely, natural reefs. This research also indicates that adding structures that form sheltering sites in and around decommissioned platforms will likely lead to higher densities of many species typical of hard and complex structure.

Changes in consumer tastes in the demand for fish and meat in Malaysia

In this article the demand for fish and its substitute was estimated using a very flexible demand function, the Almost Ideal Demand System (AIDS) developed by Deaton and Muelllbaeur (1980), incorporating the habit formation variable to measure the impact of the changes in tastes in comsumer demand for fish and meat products from 1960 to 1990 in Malaysia. Information on price and income elasticities for these meat groups was also obtained. To incorporate consumption habit variables, the dynamic translating procedure proposed by Pollak (1970) and Pollak and Wales (1981) has been adopted. The overall results of the maximum likelihood estimates of the dynamic AIDS model are quite good where 19 of 30 coefficients are significantly different from zero and the minimum budget shares, the constant, are between zero and one for each meat type. Consumers tend to purchase and consume fish, chicken, and pork almost daily. Beef and mutton are only consumed occassionally since they are relatively more expensive. This finding is consistent with the trend observed in the per capita consumption and budget share where fish, chicken, and pork tended to dominate over beef and mutton from 1960 to 1990.

What Can the Brain Teach Us about Winemaking? An fMRI Study of Alcohol Level Preferences

Over the last few decades, wine makers have been producing wines with a higher alcohol content, assuming that they are more appreciated by consumers. To test this hypothesis, we used functional magnetic imaging to compare reactions of human subjects to different types of wine, focusing on brain regions critical for flavor processing and food reward. Participants were presented with carefully matched pairs of high- and low- alcohol content red wines, without informing them of any of the wine attributes. Contrary to expectation, significantly greater activation was found for low- alcohol than for high- alcohol content wines in brain regions that are sensitive to taste intensity, including the insula as well as the cerebellum. Wines were closely matched for all physical attributes except for alcohol content, thus we interpret the preferential response to the low- alcohol content wines as arising from top-down modulation due to the low alcohol content wines inducing greater attentional exploration of aromas and flavours. The findings raise intriguing possibilities for objectively testing hypotheses regarding methods of producing a highly complex product such as wine.

Characteristics of Billfish Anglers in the U.S. Atlantic Ocean

A mail survey of 1,984 U.S. billfish tournament anglers was completed to examine their fishing activity, attitudes, trip expenditures, consumer's surplus, catch levels, and management preferences. A sample of 1,984 anglers was drawn from billfish tournaments in the western Atlantic Ocean (from Maine to Texas, including Puerto Rico and the U.S. Virgin Islands) during 1989. A response rate of 61% was obtained (excluding nondeliverables). Anglers averaged 13 billfish trips per year, catching a billfish 40% of the time while 89% of billfish caught were released with <1 billfish per year per angler retained. Catch and retention rates varied by region. Expenditures averaged $1,600 per trip, but varied by region. The annual consumer's surplus was $262 per angler, but increased to $448 per angler if billfish populations were to increase. An estimated 7,915 tournament anglers in the U.S. western Atlantic spent $179,425,000 in pursuit of billfish in 1989. Anglers opposed management options that would diminish their ability to catch a billfish, but supported options limiting the number of billfish landed.