Title: A bioeconomic analysis of the Jamaican industrial Spiny lobster (Panulirus argus) fishery

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Sustainable fishery; spiny lobster; optimal; property rights.


Static and dynamic models developed for the Jamaican spiny lobster (Panulirus argus) have highlighted a number of important characteristics. Among these is the fact that there is overexploitation in the fishery (if not overcapitalization) which has resulted in biomass, revenues and profits well short of either static or dynamic optima. The fishery is apparently on a dynamic path to the bioeconomic equilibrium where no profits are made in the fishery. This situation has developed largely due to an underdeveloped management regime, which has not been able to adequately control fishing effort or harvests, nor realize the biological and economic potential in the fishery. Despite this, there still remains potential for a much improved bioeconomic situation in the fishery. A property rights based fisheries management regime seems appropriate to address many of the problems facing this fishery.

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