Maximum sustainable yield (MSY) has been recommended as a reference point for fisheries sustainability. However, like other reference points it is generally applied on a single-species basis. This has potentially significant biological implications in a complex multispecies fishery. MSY-based reference points also have economic implications for fisheries prosecuting the resource....
In agriculture there has been a long history of using a levy or an insurance premium to create mutual funds to mediate economic risks to growers due to environmental variability and quarantine pests. In the United States the federal government, through the USDA, continues to underwrite funds (collected by private...