This paper formulates a simple biomass growth model of a fishery. The property rights regime is of the unregulated local common property type with a fixed number of fishermen and where the fish stock is exploited in a myopic profit-maximizing manner. Within this resource management setting it is demonstrated that...
Today fish is the most traded food commodity in the World. This situation is not without generating potential issues. On the one hand, fish trade is said to support economic growth processes in developing
countries by providing an important source of cash revenue. On the other hand, fish trade is...