Economic Aspects of Extended Jurisdiction Management in the Northwest Atlantic

The introduction of 200 mile zones will offer a new potential for proper management of the common-property fishery resources that lie off our coasts. One of the basic difficulties with studying the northwest Atlantic area is the biological and technological interrelationships between the different fisheries. A production model has been built taking these externalities into account. Using these interrelated production functions with data on the relative cost of effort in the different fisheries it is possible to describe that combination of effort that will achieve maximum economic yield for the fishery. The model will not only be able to correct for the common property problem but also for the biological and technological externalities that exist between the fisheries. Also measures will be provided of the losses in terms of efficiency that will occur when other goals of management such as maintaining local employment or correcting balance of payment problems are used.