ABSTRACT
Fisheries managers face the difficult task of ensuring the sustainable use of a highly variable resource while maintaining healthy marine ecosystems. Not surprisingly, they have not always made the best decisions while trying to juggle the many demands asked of their time and expertise. In this, our concluding chapter, we briefly review the various fisheries applications we have presented previously, and summarize what they imply about the economics of fisheries management. We also provide our perspective on the problems with input controls, instrument choice in fisheries, the challenges of uncertainty, the value of adaptive management of fisheries, and what is required to improve fisheries performance.
