Exploitation of the marine ecosystem brings with it an intertemporal choice: there is a choice of catching the fish today, or restrain from fishing with the option of an increase in the benefit from future harvest. In a marine ecosystem under common pool management regime the contribution margin...

Ecosystem Management requires models that can link the ecosystem level to the operation level. This link can be created by an ecosystem production model. Because the function of the individual fish in the marine ecosystem, seen in trophic context, is closely related to its size, the model groups...

The need for management of the marine ecosystem using a broad perspective has been recommended under a variety of names. This paper uses the term Ecosystem Management, which is seen as a convergence between the ecological idea of an organisational hierarchy and the idea of strategic planning...

The term “Fishing Down Marine FoodWebs” describes the gradual transition in landing from marine ecosystems towards organisms lower in the food web. To address this issue and the need to manage the marine ecosystem in a broader perspective, Ecosystem Management is recommended. Ecosystem...

Stock models, in which production is interpreted as if it were the population growth of a stock, have been the preferred tool for fishery economics since Clark and Munro (1975) introduced capital theory in these models. Ravn-Jonsen (2009c) applied capital theory to a model in which the...