Heavy positively autocorrelated natural fluctuations in a fisheries stock level are problematic for fisheries management, and collapses in the stock dynamics are difficult to avoid. In this paper, we compare three different harvesting strategies (proportional harvesting, threshold harvesting,...

A general dynamic model of fishing under harvest share contracts is developed. Vessel owners hire fishermen to work on the vessels and pay them a share of the catch and an additional wage. The harvest rate depends on labor input, capital input, and stock level. Neither of the agents is...

According to international law, straddling fish stocks should be managed cooperativelythrough Regional Fisheries Management Organizations (RFMOs).This paper analyzes the stability and success of these organizations through agame in partition function form based on the classical Gordon-Schaefer...

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...

This paper examines the relationship between causality models and cointegration models in testing for price integration and the Law of One Price (LOP). In our review, we show that cointegration models, which allow for nonstationarity in prices, are a natural extension of the traditional...

The catch of cod in Norway is processed into a variety of final products, most of which are exported. The main product categories are salted, dried and frozen products. Most processors have some choice as to which type of product to produce. Our hypothesis is that the choice of product type is...