Economic and biological risk analysis of the Norwegian spring-spawning herring fishery

The purpose of this paper is to study the biological and economic risks inv olved in the management of the Norwegian spring-spawning herring fishery. W e use a discrete time and age-structured model based on historical data. Th e current paper investigates, under different levels of fishing mortalities , the risk probabilities related to the time behaviour of the spawning stoc k and profit. We show that the exploitation of the herring stock is vulnera ble to small changes in harvesting and price level.