Journal article
Edward R. Morey
Natural Resources Journal, vol. 20(4), 1980, pp. 827-851
Natural Resources Journal, vol. 20(4), 1980, pp. 827-851
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APA
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Morey, E. R. (1980). Fishery Economics: An Introduction and Review. Natural Resources Journal, 20(4), 827–851.
Chicago/Turabian
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Morey, Edward R. “Fishery Economics: An Introduction and Review.” Natural Resources Journal 20, no. 4 (1980): 827–851.
MLA
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Morey, Edward R. “Fishery Economics: An Introduction and Review.” Natural Resources Journal, vol. 20, no. 4, 1980, pp. 827–51.
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@article{edward1980a,
title = {Fishery Economics: An Introduction and Review},
year = {1980},
issue = {4},
journal = {Natural Resources Journal},
pages = {827-851},
volume = {20},
author = {Morey, Edward R.}
}
This paper introduces the reader to the study of fishery economics. Four questions are addressed. How should a fish stock be utilized by society? Is the optimal stock size that which produces maximum sustainable yield? Next we examine the properties of a free access fishery, where there are no restrictions on entry, determine whether an equilibrium can exist in such a fishery, and if so, attempt to describe its characteristics. Finally, what sorts of regulalions, quotas, and taxes can a fishery manager use to achieve socially optimal regulation? These questions are not fully answered here; the intent is rather to explain the factors economists fed must be considered if the questions are to be answered correctly.