The Minister understands that open access is inefficient and risks “crashing” the fishery and she…

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The Minister understands that open access is inefficient and risks “crashing” the fishery and she intends

to provide some protection from over-depletion by imposing a minimum biomass level.

? A biological adviser has suggested that setting harvest at maximum sustainable yield [MSY]

would be best because it would maximise perpetual volume of fish harvested.

? Another adviser has suggested that it would be better to target maximum static economic yield

[MSEY] because it would maximise perpetual net income (profit) from the fishery.

The Minister has asked you to estimate the impacts of these two policies relative to continuing with open

access.

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