Optimal Harvesting of a Prey-Predator Fishery: An Overlapping Generations Analysis

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Özgün B. , Öztürk Ö., Küçükşenel S.

Boğaziçi Journal: Review of Social, Economic and Administrative Studies, vol.33, no.2, pp.1-21, 2019 (International Refereed University Journal)

  • Publication Type: Article / Article
  • Volume: 33 Issue: 2
  • Publication Date: 2019
  • Doi Number: 10.21773/boun.33.2.2
  • Title of Journal : Boğaziçi Journal: Review of Social, Economic and Administrative Studies
  • Page Numbers: pp.1-21


Maximum sustainable yield (MSY) and maximum economic yield (MEY) harvesting strategies are characterized using an overlapping generations (OLG) model of heterogeneous (prey - predator) fishery. A proper modeling of real-life cycle dynamics of fish is introduced with a commonly used prey-predator interaction system of equations to create heterogeneity. Prey-predator interaction is modeled with three different functional forms: prey dependent, predator dependent and ratio dependent. MSY and MEY harvesting strategies with these three different forms are given under perfect and imperfect fishing selectivity and presented both numerically and graphically.