Economics of Marine Resources and Conservation Policy

How can we manage a so-called "renewable" natural resource such as a fishery when we don''t know how renewable it really is? James A. Crutchfield and Arnold Zellner developed a dynamic and highly successful economic approach to this problem, drawing on extensive data from the Pacific halibut industry. Although the U.S. Department of the Interior published a report about their findings in 1962, it ...