Marine Protected Areas are considered as a hedging tool against some of the uncertainties that trouble many fisheries today. Such tools are always connected with a cost; a premium. An optimal harvest rule is combined with a protected area to manage a fishery. The model ignores uncertainty, and...

The biological resources of the sea have long fascinated man. The mystery of what lies beneath the surface has stimulated his imagination and nurtured hope that in this vast area there are resources capable of feeding a growing and a still hungry population for centuries to come. But, at the...