Same Ocean, Different Currents

Abstract

Fisheries management has evolved and addressed diverse disciplines including the application of mathematical models, economic analysis, and sector behavior considerations. Models use interrelated variables that require a balanced assessment, while recent literature stresses the importance of integrating biological/ecological with social/economic aspects. This study conducts a review of 35 studies focusing on the state-of-the-art of two key currents: management strategy evaluation and bioeconomic analysis. The analysis was done for small pelagic fisheries due to their global significance. The results show the importance of socio-economic variables and emphasizes the need to address the behavioral and economic facets specific to fisheries which have been insufficiently explored. The emphasis on prioritizing analytical reality over theoretical models highlights the importance of basing policy decisions on empirical evidence and practical considerations. The study identifies areas in need of further research and includes a critical discussion of the main approaches to a common resource.