FISHERY BULLETIN: VOL. 78, NO. 1 



7) Base stock size of 0.2 till 0.6, then a base stock 

 size of 0.4. 



8) Base stock size of 0.2 till 1.0, then a base stock 

 size of 0.4. 



9) Base stock size of 0.2 till 0.4, base stock size of 

 0.4 till 1.2, base stock size of 0.6 after that. 



These nine approximate policies were devised 

 by examining the functions that define the three 

 regions in Figures 2 and 3. These approximate the 

 boundaries of the three regions where the smooth- 



ing costs are one-fourth to one-half the per unit 

 value of the harvest. The mean per period harvest, 

 variance, standard deviation, median per period 

 harvest, etc. for these nine policies are given in 

 Table 2. 



Policies 3 and 4 for the Wood River and 8 and 9 

 for the Branch River demonstrate how these ap- 

 proximate policies tend toward smoothing 

 policies. For example, policy 4 has the same me- 

 dian harvest as the optimal base stock harvest, 

 almost never closes the fishery, significantly de- 



,56 1.12 1.68 2.24 2.80 3.36 3.92 4.48 5.04 5.60 6.16 6.72 .56 1.12 1.68 2 24 2.80 3.36 3.92 4.48 5.04 5.60 6.16 6.72 



Figure 2.— Continued. 

 42 



