Capital Accumulation in Open-Access Fishery: A Qualitative Dynamic Approach

Title: Capital Accumulation in Open-Access Fishery: A Qualitative Dynamic Approach

Research Question: How does capital accumulation in open-access fisheries affect the interaction between capital and fish stock?

Methodology: The authors used a qualitative dynamic approach to model the interaction between capital and fish stock in open-access fisheries. This methodology allows for a more realistic analysis of the system's complexity without the need for simplifying assumptions.

Results: The model successfully traced the evolution of capital and fish stock, showing that overcapitalization is inevitable in unregulated fisheries. This suggests that policy interventions may be necessary to prevent the depletion of fish stocks.

Implications: The findings of this study have significant implications for the management of fisheries. By understanding the dynamics of capital accumulation, policymakers can develop more effective strategies for sustainable fishing practices. Additionally, the qualitative dynamic approach used in this study provides a new methodology for analyzing complex bio-economic systems, which could be applied to other fields of study.

Link to Article: https://arxiv.org/abs/0202004v2 Authors: arXiv ID: 0202004v2