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Open Access Performance When Vessels Use Profit Goal Behavior

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  • While most bioeconomic models assume that vessel operators use profit maximizing behavior, it is sometimes argued that participants use other operational goals. The purpose of this paper is to compare how vessel behavior, the bioeconomic equilibrium and the path to achieve it are changed if participants use profit goal behavior. It is shown that, depending on the operational rule used to achieve the profit goal, there can be significant differences in the amount of individual vessel effort at different stock sizes, and this can effect the location and the stability of the bioeconomic equilibrium.
  • Keywords: Theoretical and Empirical Bio-Economic Modelling, Profit maximizing behavior, open-access fishery behavior, Fisheries Economics, profit goal behavior
  • Keywords: Theoretical and Empirical Bio-Economic Modelling, Profit maximizing behavior, open-access fishery behavior, Fisheries Economics, profit goal behavior
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  • Anderson, Lee G. 2002. Open Access Performance When Vessels Use Profit Goal Behavior. In: Proceedings of the Eleventh Biennial Conference of the International Institute of Fisheries Economics and Trade, August 19-22, 2002, Wellington, New Zealand: Fisheries in the Global Economy. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2002. CD ROM.
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