ABSTRACT
This chapter reviews some surplus yield models and describes in order to study the nature of the overfishing problem in both a static and dynamic sense. It analyses the sustainable yield curve as a surplus yield model, aims to determine the variables which affect the position and shape of the sustainable yield curve, to study the nature of the final equilibrium under open-access and managed fisheries, and to compare the results of static and dynamic models. Yield is a function of both the level of effort and the level of population. C. Clark shows how the traditional sustainable yield curve is consistent with extinction. The analysis of H. Gordon and Milner Schaefer in terms of sustainable yield curves left largely unresolved the question of how the traditional theory of the firm could be incorporated into the commercial theory of fishing. On the economic side the fishermen are considered as another predator in the system.
