Optimal Capacity Decisions in a Developing Fishery
- 1 January 1985
- journal article
- Published by University of Chicago Press in Marine Resource Economics
- Vol. 2 (1) , 25-53
- https://doi.org/10.1086/mre.2.1.42628875
Abstract
The problem of estimating optimal fishing capacity for a developing fishery is discussed, using the methods of Bayesian decision analysis. The results obtained indicate that quite good decisions can often be made on the basis of limited prior information as to fish stock productivity, particularly if a conservative approach allowing for subsequent inceases in capacity is employed.Keywords
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