Management of a Multiple Cohort Fishery: The Hard Clam in Great South Bay

Jon M. Conrad

American Journal of Agricultural Economics, 1982, vol. 64, issue 3, 463-474

Abstract: This paper develops a reasonably general multiple cohort model and derives conditions for optimal harvest and age structure based on a discrete time control problem which maximizes the present value of net revenues subject to recruitment and spawning constraints. The model is applied to the hard clam resource in Great South Bay, which is located on Long Island, New York. The steady state optimum calls for exclusive harvesting of the younger, and more valuable, "littleneck" cohorts; leaving the older, and less valuable, "cherrystone" and "chowder" cohorts to specialize in regeneration.

Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:64:y:1982:i:3:p:463-474.

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