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Fisheries Bioeconomics Under Open Access

In: The Economics of Optimal Growth Pathways

Author

Listed:
  • S. Niggol Seo

    (Muaebak Institute of Global Warming Studies)

Abstract

The economics of fisheries is noted for its analysis on open access resources. Owing to the open access, a major problem in fisheries is over-exploitation of various fish species and their possibilities of extinction. The economics of fish catch relies on a bioeconomic modeling approach which integrates biology of fish growth with the economics of fish harvest. The biological component describes the fish growth and regeneration which differs markedly from species to species. The economic component describes the profit maximization via the harvest function which depends on fishing efforts as well as a biological stock of fish. A shift from open access fisheries to private property fisheries, one fishery after another across the planet, can lead to a more societally optimal fishing effort at the planet level, which may go a long way in protecting the marine species as well as the health of the oceans.

Suggested Citation

  • S. Niggol Seo, 2023. "Fisheries Bioeconomics Under Open Access," Springer Books, in: The Economics of Optimal Growth Pathways, chapter 0, pages 141-160, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-20754-9_6
    DOI: 10.1007/978-3-031-20754-9_6
    as

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