What information do we need to make allocation decisions using economics so that all sectors are compared apples to apples?
As discussed above, value estimates must be used to decide the most efficient allocation of the public fishery resource. Ideally, allocation decisions must be made based on who has the higher value for the next fish. On the harvester side, this includes their economic profits denominated by numbers or pounds of fish and on the recreational side, the anglers’ willingness to pay for that next fish. For more information on this topic, see: Edwards, S.F. 1994. An economic guide to allocation of fish stocks between commercial and recreational fisheries. NOAA Technical Report. National Marine Fisheries Service.
