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Free Access and the Dynamics of the Fishery

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  • John Hartwick

Abstract

Free entry to a depletable stock can be unstable-- output price can rise faster than costs as harvests fall, entry is encouraged and further harvest and stock declines follow. V. Smith argues that the fishery is stable under free access. We suggest that recent world wide moves to restrict entry are not a result of the fishery being unstable, but are motivated by the desire of exploiters and conservationists to have larger steady state stocks persisting over time.

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Bibliographic Info

Paper provided by Queen's University, Department of Economics in its series Working Papers with number 332.

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Length: 14
Date of creation: 1979
Date of revision:
Handle: RePEc:qed:wpaper:332

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Cited by:
  1. Julio Peña-Torres & Michael Basch & Sebastian Vergara, . "Downward Adjustments in a Cyclical Environment: The Case of Chilean Pelagic Fisheries," ILADES-Georgetown University Working Papers inv143, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.

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