Bioeconomic equilibrium and supply regime for a multi-species multi-fleet fishery: an analysis in the Mediterranean Sea

Fishery authorities are often led by poor scientific knowledge about fish stock dynamics and socio-economic concerns, to adopt management choices that are similar to an open access situation. Management of transboundary fish stocks is particularly problematic because national authorities can pursue different objectives. Supply regimes are also affected by biological variables, strategic interaction and management choices. In this paper, we present a bioeconomic model in the case of two fleets competing for two target species. A numerical application, using a surplus production model and game theory, is performed for the small pelagic fishery in the Adriatic Sea. Different policy choices are assumed in the framework of competitive games.