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Economic Potential of the California Trawl Fishery
Author(s) -
O'Rourke Desmond
Publication year - 1971
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1237821
Subject(s) - yield (engineering) , fishery , maximum sustainable yield , sustainable yield , resource (disambiguation) , natural resource economics , economics , environmental science , fisheries management , fishing , ecology , biology , computer science , computer network , materials science , metallurgy
Abstract This paper presents a technique for estimating the physical yield function of a fishery when detailed biological and environmental data are lacking. The physical yield function of the California trawl fishery is incorporated in an economic model to show the relationship between maximum sustainable physical yield of the fishery and maximum economic yield. Maximizing the economic benefit of the fishery to society would involve a drastic reduction in resource use at a catch level considerably below the biological maximum sustainable yield. Only through marginal cost pricing can resources be allocated efficiently to the fishery.