REGULATION OF A SINGLE-SPECIES FISHERY BY TAXATION

Bioeconomic exploitation of a single-species fishery is discussed by u sing a reasonable catch-rate function instead of the usual 'catch-per- unit-effort hypothesis'. It is assumed that an external agency regulat es the fishery by imposing a suitable tax per unit biomass of landed f ish. The fishing effort is taken as a dynamic variable depending on th e capital invested in the fishery. The steady state is determined and its stability is discussed. The optimal harvesting policy is studied f rom the view point of control theory. S-system analysis is then applie d to the model and some numerical computations are carried out.