Reference points for fisheries management
Exploring equilibriums in a graphical representation of the Gordon-Schaefer-model
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Open access equilibrium
The bioeconomic equilibrium is referred to as Open Access Equilibrium. |
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Maximum economic yield (MEY) Economic rent is maximised and maximum economic yield is obtained when the marginal revenue equals marginal cost (including opportunity costs of all input factors in production of fishing effort). |
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Maximizing present value of all future rents dsds |