suggest that prices, quantities landed, and a 

 statistically acceptable production function 

 are all that is needed to derive the functional 

 relationship )iecessa)ij for maiiagenieiit. as- 

 suming that this production function can be 

 used to determine the continuing relationship 

 between effort and landings. 



This last phrase is important, for it may 

 well be that a final decision in the allocation 

 of research and management resources will 

 depend upon the spin-off, or secondary benefits 

 from certain research endeavors above and 

 beyond their direct contribution to manage- 

 ment. This would, of course, be especially true 

 with regard to the extreme of the broad-based 

 ecological approach, with both long run and 

 short run considerations, as suggested in some 

 biological circles. The recent reorganization 

 of certain agency functions within the National 

 Oceanic and Atmospheric Administration 

 may have some bearing here. 



(4) Using Research Results to Design Oper- 

 ational Schemes: Existing schemes which may 

 be actually classified as direct measures to 

 limit entry have established certain precedents. 

 Canadian programs in Atlantic lobsters and 

 Pacific salmon have emphasized licenses for 

 principal capital inputs, a limited entry pro- 

 gram. The Inter-American Tropical Tuna 

 Commission (lATTC) has utilized quotas and 

 area restrictions while International Commis- 

 sion for the Northwest Atlantic Fisheries 

 (ICNAF) has utilized mesh size and area re- 

 strictions and recently seasonal closures for 

 overfished species. The Union of South Africa 

 regulates via licenses issued through proces- 

 sing plants which allocate these among vessels. 



The debate concerning these existing types 

 and many other hypothesized forms may be 

 divided into two subject areas, one concerning 

 whether the plan will actually lead to an al- 

 location of resources which approaches some 

 predetermined optimum and the other whether 

 the plan is operationally realistic, which may 

 invoke social and political considerations as 

 well as those of biology, technology, and eco- 

 nomics. Mr. William Terry, in his opening 

 statements to the participants of this work- 

 shop, emphasized the urgent need to begin 

 evaluating the proper mix of all possible inputs 

 into fisheries management. He asserted that 



we must begin now to define the components 

 of the interface, looking beyond the immediate 

 problems of each discipline. Consistent with 

 this he suggested the possible need to develop 

 new, broader objectives of fishing management. 



Presently discussed mechanisms have two 

 principal components, a way of limiting entry 

 into fisheries and a means of allocating the 

 quasi-property rights which result. Some 

 mechanisms perform these functions simul- 

 taneously, such as an auction system, whereas 

 others, such as a licensing system, require the 

 administrator to make some judgement as to 

 the number of licenses as well as how they 

 shall be allocated. Relating to some historical 

 experience in the oyster fishery, there are 

 many unexplored questions regarding the ap- 

 plicability of leasing schemes for sessile re- 

 sources. 



The message here is clear. We have devoted 

 considerable effort to developing sophisticated 

 conceptual constructs for fisheries manage- 

 ment. Regarding actual operational alterna- 

 tives we have confined our efforts to informal 

 and often exclusively internal debates. Re- 

 sponsible researchers must soon assume the 

 task of a thorough evaluation of the many 

 suggested working plans. This evaluation 

 must be subsequently exposed to discussion 

 via the professional journals so that all the 

 preceding work can truly be productive. 



(5) Lo)ig Rini Versus Short Run Solutions: 

 The fruits of economic modeling are proposals 

 involving changes in the quantities of labor 

 and/or capital in commercial fishing, often 

 reductions of both in addition to increases 

 in the capital/labor ratio. Capital inputs are 

 usually quite fixed; indeed, this may be true 

 of labor inputs also. What results is the quite 

 obvious conclusion that achieving these opti- 

 mum solutions will in all cases involve extend- 

 ed time periods. What then is the preference 

 ranking for the many plans which may have 

 to be initiated in the interim? 



The truthful answer to these questions is 

 that we really don't know. We have not fully 

 designated the compromises which would be 

 necessary, much less made a careful evaluation 

 of which would be preferable. This suggests 

 two immediate tasks to be undertaken by 

 the economist. 



