Fish Population Dynamic and Stock Assessment

9.3.2 Open accent catch

9.3.2 Open access catch

At open access catch the cost equals revenue however there will be normal return on capital in open access fishery, the fishery is characterized by overcapitalization, overcapacity, low return on investment and dissipation of rents that would have accrued to the in sentry (Disery 1983). However consumer’s surplus will be at its maximum as shorn in b, q, r in the figure.

The maximum economic yield is les than OAL as MSY. However the surplus production will be maximum and baat avenues will be making profit on the consumer surplus will be reduced as shown p, a, b in the figure.

The meet important characteristic is the of open access fishery in that profits are zero. Though the characteristic of open accent is termed as tragedy of commons, the open access and common property are not the same. Common property resourced, tend to display restrictions on who may exploit the resource and also the execution of the exploiting resource open accent will be a good representation of the exploitation of a resource for a certain time period.

The good example is whale fishing. Whale fishing has potential effects of open access and at the same time by recognising that resource at global level becomes common property.

The supply – demand curve at MEY, SaY, OAL and MSY is given in following figure.

Fig…

i) In open access catch, (OAL) consumer’s surplus will be at its maximum C Shown in p.q and r in the figure.

ii) In MSY the cost of fishing at a point ‘p’ for MSY is higher than the corresponding revenue (at t) and also the cost at open accent (q). In MSY the advantage the stock will be fished at its maximum sustainable level and there will be a high enough catch in the consumer with a super normal cost in the industry.

If at are MSY is need to be a policy, the demand curve should shift upwards interacting the cost curve at its backward bending portion so that the cost of MSY is les than at open access.

In Socially optional catch also called socially optional yield (Soe) equitable distribution of rent is achieved by reducing the brirate profit to the area e, f, g, h and by increasing the consumers surplus to p, e, f at the level of MEY.