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Full-Text Articles in Economic Theory
A Fishy Problem: Effects Of Atlantic Salmon Farming In The Pacific Ocean, Madeleine A. Griffith
A Fishy Problem: Effects Of Atlantic Salmon Farming In The Pacific Ocean, Madeleine A. Griffith
Student Theses 2015-Present
In this report, I explore the historical, climatological, economic, and ethical issues created by the contemporary industrial salmon farming practices off Pacific coast of the United States and Canada. Chapter 1 utilizes a variety of sources from Stephen Hume’s A Stain upon the Sea to Miller’s Living in the Environment, to examine the integral part salmon plays in both freshwater and marine ecosystems, the ecosystem services salmon contribute in wild and farmed settings, and the trends in salmon consumption around the world. Chapter 2 examines the historically relevant role salmon held among indigenous societies and how that role has changed …
Overfishing: Economic Policies In Finite Resource Biological Pools, Abdullah Nasser
Overfishing: Economic Policies In Finite Resource Biological Pools, Abdullah Nasser
Undergraduate Economic Review
Common-property fishing is a classic example of the tragedy of the commons. Driven by competition, rational fishermen are forced to overfish to maintain marketplace viability. This shortsighted strategy will lead to the depletion of the common resource pool, and ultimately the destruction of the local fishing industry. In this paper, we present a dynamic differential system of a finite-resource fishing pool to model choices faced by average fishermen. We show that the situation mirrors a Prisonor’s Dilemma on the short- and long-terms, where overfishing is always the dominant Nash equilibrium strategy. Additionally, we use the model to analyze a multitude …