19 Apr 2022
CLAIM research topic: New ways to tackle plastic pollution in the marine environment
CLAIM partners from Vrije Universiteit Amsterdam are authors of the article and present a dynamic optimisation model to explain the mechanism through which marine litter causes inefficiencies in the fishery sector. They did that by investigating the properties of the model when the marine litter externality is internalised through the price of fish.
The findings of the study show that if the marine litter externality is neglected, fish harvest increases and ocean quality deteriorates.
In addition, the researchers explored the possibility of introducing an incentive scheme where marine litter can be traded in a hypothetical market. The introduction of a so-called fishing-for-litter market removes the inefficiencies caused by fishermen neglecting marine litter and provides a direct incentive for them to maximise overall welfare through resource recovery. For example, by converting plastic waste into a new valuable resource.
You can read more in the full paper here.
This article is part of the research topic “Cleaning Litter by Developing and Applying Innovative Methods in European Seas” published in Frontiers of Marine Science.