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Generating Policy Information for Fisheries Management: A Comparison of Alternative Approaches

The potential for economic policy modelling approaches under alternative theories of fisheries management are reviewed. Conceptual dynamic models are developed to illustrate the discussion. Results suggest that the class of multiobjective models known as multiattribute utility theory are consistent with a fisheries policy process characterized primarily by principles of scientific management. Conversely, multiobjective policy models based on generating techniques may be more appropriate when the policy process is driven by a pluralistic process. Conceptual and numerical models are used to demonstrate the potential for these approaches in incorporating environmental externalities. Dynamic and capitalized policy frontiers are generated for purposes of comparative analysis. The paper concludes by emphasizing the role that multiobjective methods can play in improving the efficiency of the fisheries policy process.