Dynamic adjustment is an integral part of natural resource economics. Commonly, capital is assumed to respond instantaneously to changes in profits, while in reality adjustment may take place only with a time lag. In this paper, an empirical analysis of capital (boat) dynamics in the North Sea...

"There is now strong scientific evidence that several species of baleen whale and possibly the sperm whale, have recovered to levels that would support commercial harvest. The stock of fin whales (Balaenoptera physalus) off the eastern coast of Iceland and the minke whale (Balaenoptera...

Norwegian spring-spawning herring (Clupea harengus) is the largest fish stock in the North Atlantic and is harvested by many nations. The introduction of new technology in the 1960s resulted in a substantial increase in the efficiency of the fishing fleet. As a consequence, the stock was fished...

A discrete time, multi-gear, and age structured bio-economic model is developed for the East Atlantic bluefin tuna fisheries, a paradigmatic example of the difficulties faced in managing highly migratory fish stocks. The model is used to analyse alternative management strategies for the Regional...

The failures of traditional target-species management have led many to propose an ecosystem approach to fisheries to promote sustainability. The ecosystem approach is necessary, especially to account for fishery-ecosystem interactions, but by itself is not sufficient to address two important...