Reference points for fisheries management
Exploring equilibriums in a graphical representation of the Gordon-Schaefer-model
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Demonstrations to explore
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"The Gordon-Schaefer Model" from the Wolfram Demonstrations Project
"Maximizing the Present Value of Resource Rent in a Gordon-Schaefer Model" from the Wolfram Demonstrations Project

Maximum sustainable yield (MSY)

The Maximum Sustainable Yield (MSY) is an equilibrium situation without any economic interpretation. It maximises harvest production and as such it has relevance for the food supply situation in an area.

Biological overfishing is defined by the MSY equilibrium, as overfishing in biological sense occurs at levels of fishing effort beyond the MSY effort. 

Open access equilibrium

The bioeconomic equilibrium is referred to as Open Access Equilibrium.

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).

Maximizing present value of all future rents