PUP-4203 Lecture Notes - Lecture 18: Maximum Sustainable Yield, Individual Fishing Quota, Common Fisheries Policy
Document Summary
Concepts: carrying capacity, maximum sustainable yield, total allowable catch, individual transferable. What the ish stock would be absent any sort of intervenion from humans. Fish stock that would be present over ime. Graph with rate of growth on y axis and size of stock on x. when we have very few ish in ishery we"re going to have growth. Rate of growth will increase unil environmental constraints take over, then ish stock will slow down. Rate of growth=0 is the carrying capacity (k) it is at k that the ish stock stops growing. Natural rate regeneraion is just equal to the mortality rate. Basic principles: begin with an unexploited ishery in biological equilibrium (where populaion=k: suppose that the harvest rate h exceeds even the highest possible growth of ishery. Maximum sustainable yield-coninue harvesing this amount forever. All the ish we take out of ishery are being naturally replenished.
