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To date, research on the economic implications of climate change on fisheries has been both limited and fragmented. The contributors to this volume remedy the lack of attention by investigating the economic consequences of pelagic fish fluctuations in the recent past in order to understand how to adapt and respond to future climate changes.

Small pelagic fish constitute approximately 30 per cent of the world's fish catch, have a global distribution, and are characterized by dramatic fluctuations in response to ocean climate. Despite this, countries adjust to changes in fish abundance, regardless of the cause, at variable time scales. These adjustments are often uncoordinated. The contributors address these concerns in chapters that cover a range of topics including: historical fluctuations of Atlanto-Scandian herring, management adaptations to climate regime shifts, differential consequences of pelagic fishery collapses in Southeast Asia, and the globalized nature of fishmeal markets. The case studies are complementary and yet self-standing, highlighting the need for a more coordinated assessment of impacts, and calling for more focused research.

Students and scholars of climate change and environmental and resource economics will find this cohesive volume an instructive and enlightening resource. Policymakers and those in the fisheries management community will find the case studies and analyses useful in determining future goals and responses.