Biological and Economic Aspects of the Management of Commercial Marine Fisheries

Abstract

Conservation management of the commercial marine fisheries has the general objective of maximizing man's long-term benefits from the exploitation of the fish resources. The question of what is most beneficial to man involves both biological and economic considerations. In this paper some of the effects of fishing on the fish stocks, and on the sustainable yields from them, are considered, together with important economic factors. It is indicated that the maximum sustainable average catch and the maximum net economic yield are mutually exclusive. It is possible, however, to obtain some net economic yield at the level of maximum sustainable harvest, but this requires some modification of the common property nature of fish stocks.