J. Barkley Rosser, Jr., James Madison University, Harrisonburg, VA

Abstract: Fishery dynamics are considered within the context of an integrated ecologic–economic, or bioeconomic, approach. The possibility of complex dynamics is examined, both of the chaotic as well as the catastrophic variety. Issues involving learning and convergence by fishers are considered as are complications arising from the hierarchical nature of fisheries. Policy responses to these problems are seen to involve the precautionary principle to mitigate the threat of catastrophic discontinuities and the scale-matching principle to ensure that management and property rights system are properly implemented.

Keywords: fisheries, catastrophe theory, chaos theory, scale-matching principle, precautionary principle