A bioeconomic model of a single-species fishery with a marine reserve

This study examines the impact of the creation of marine protected areas (MPAs), from both economic and biological perspectives. In particular, we examine the effects of protected patches and harvesting on resource populations. We conclude that protected patches are an effective means of conserving resource populations, even though extinction cannot be prevented in all cases. We discuss the dynamic optimization of a harvest policy by choosing E(t), the harvesting effort, as the dynamic variable. We also discuss the optimal equilibrium harvest policy and explain the biological and bioeconomic interpretations of the results.