chapter  2
30 Pages

Game theory and the development of resource management policy: the case of international fisheries

ByGORDON R. MUNRO

This chapter is concerned with the relevance, if any, of game theory to a major resource management issue, namely the management of internationally shared fishery resources. It is argued that the economics of the management of such resources cannot be understood other than through the lens of game theory. Several elementary game theory concepts are discussed that are of utmost policy relevance, but which are, as of yet, poorly understood by most policymakers. In addition, the chapter discusses a key policy problem in the management of shared fishery resources that demands a game-theoretic analysis. The required analysis, however, has yet to be developed.