Global Scope and Economics of Illegal Fishing 03/11/2005
Author: Fisheries Centre, University of British Columbia
This paper presents a model for the analysis of the costs and benefit aspects of the risk inherent in illegal, unreported and unregulated (IUU) fishing. A key result of the study is that the expected benefits from IUU fishing far exceed the expected cost of being apprehended. For an assumed 1 in 5 chance of being apprehended, their calculations show that reported fines for the vessels apprehended will have to be increased by 24 times for the expected cost to be at least as much as the expected benefits.