ECO 3620. Environmental Economics
Renewable Resources: Fisheries
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Bioeconomic Model
- Fishing effort and stock size
- Revenue: TR=f(E), MR=ΔTR/ΔE, AR = TR/E
- Cost: TC=wE, MC=AC=w
- Open access equilibrium
- Maximum sustainable yield
- Maximum economic yield
Open Access Regulations
- Gear restrictions
- Size limits
- Seasons
- Area closures
- Quotas
Limited Entry Regulations
- Tax on effort
- Individual transferable quotas
Externalities
- Recreational fishing
- Incidental catch
- Water pollution
Links
