Information acquired by fishermen while fishing play a crucial role in their decision-making process. Those are used to form the basis for update of beliefs on productivity of a range of available fishing grounds while acting in an uncertain environment. In this paper, we focus on the formation of fishermen's...
The Baltic fishery is managed under the European Union Common Fisheries Policy (CFP) which defines procedures for setting annual total allowable catches (TAC) for major commercially harvested species. TACs are given as fixed shares to each member state by applying the principal of relative stability. Poland uses non-tradable individual vessel...