Abstract:
The theory of extensions to the national accounts is expressed
in models in which wealth is being explicitly maximized.
For the fishery, the central issue is such valuation
when the policy being followed is inefficient. We begin the
task of making such valuations for commercial products of a
fishery. Capacity is limited by investment in fishing boats.
Therefore, depreciation of the boats has to be evaluated as
well as depletion of the fish stock. Depletion of a non-optimal
fishery can be evaluated, and is always greater than depletion
of an optimal fishery. Statistical requirements are found and
examples are given on how to apply them.
