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An Economic Evaluation of Alternative Management Systems for Commercial Fisheries
Author(s) -
Van Meir Lawrence W.
Publication year - 1969
Publication title -
transactions of the american fisheries society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.696
H-Index - 86
eISSN - 1548-8659
pISSN - 0002-8487
DOI - 10.1577/1548-8659(1969)98[347:aeeoam]2.0.co;2
Subject(s) - overfishing , fishery , fishing , business , fisheries management , resource (disambiguation) , fish <actinopterygii> , natural resource economics , revenue , economics , computer science , biology , accounting , computer network
It has been widely accepted for a long time that demand conditions for the products of a common property commercial fishery resource can lead to biological overfishing of the resource. The consequences of biological overfishing are readily recognized as being undesirable from the viewpoint of both fish and mankind. In economic terms, biological overfishing can be described as a condition which requires more capital and labor to produce less fish than would be true if fishing effort were reduced to a point at which biological overfishing was eliminated. This implies the necessity of a management system. The critical question then is this: If exploitation of a common property resource is to be managed, what objective should be sought in the management program employed? Economic objectives require that the fishery operate on the highest possible revenue curve and lowest possible cost curve for the industry. This means that vessels and manpower must be used efficiently.