Abstract:
This paper examines selected issues that are likely to be important in improving economists' models of allocation of fishery harvests between commercial and recreational harvesters. Valuation in the commercial sector is emphasized, with harvests of a species subject to allocation viewed as an input into production of consumer fishery goods. Substitution possibilities in production of these consumer goods, and data generally available to economists are discussed as motivations for application of the general equilibrium derived demand to valuation in the commercial sector. Conceptual and empirical problems in applying the function are discussed.