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The Gordon-Schaefer model is a bioeconomic model applied in the fishing industry.It may be used to compute the maximum sustainable yield.It takes account of biological growth rates, carrying capacity, and total and marginal costs and revenues.
The concept of maximum sustainable yield (MSY) has been used in fisheries science and fisheries management for more than a century. Originally developed and popularized by Fedor Baranov early in the 1900s as the "theory of fishing," it is often credited with laying the foundation for the modern understanding of the population dynamics of fisheries. [1]
In 1977, Peter Larkin wrote its epitaph, challenging the goal of maximum sustained yield on several grounds: It put populations at too much risk; it did not account for spatial variability in productivity; it did not account for species other than the focus of the fishery; it considered only the benefits, not the costs, of fishing; and it was ...
The amount that is available to be harvested is controlled by the benchmarks MSY and OY. MSY is the maximum sustainable yield and OY is the optimum yield of a stock. The main difference between MSY and OY is that MSY considers only the biology of the fish while the OY considers the economic aspect of the harvest.
The maximum sustainable yield is usually higher than the optimum sustainable yield. This logistic model of growth is produced by a population introduced to a new habitat or with very poor numbers going through a lag phase of slow growth at first. Once it reaches a foothold population it will go through a rapid growth rate that will start to ...
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The Sustainable Fisheries Act of 1996 is an amendment to the Magnuson-Stevens Fishery Conservation and Management Act, a law governing the management of marine fisheries in the United States. Another major amendment to this legislation was later made under the Magnuson-Stevens Fishery Conservation and Management Reauthorization Act of 2006 .
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