Abstract
1- Introduction
2- Recent research developments: the articles reviewed
3- Conclusion
References
Abstract
Game theory studies the strategic interactions between and among decision makers, players, through mathematical models called games. This paper presents an overview on the evolution of the application of game theory to fisheries economics. The first applications emerged in the late 1970s, focussing upon internationally shared fish stocks. This occurred in the context of the UN Third Conference on the Law of the Sea, and the 1982 UN Convention on the Law of the Sea. During the 1980s and early 1990s the application of game theory to fisheries focused mainly on transboundary fish stocks. Thereafter, the applications to straddling fish stocks developed significantly, through the use of coalition games. This was a consequence of the mismanagement of these stocks, and the management regime brought forth in response by the 1995 UN Fish Stocks Agreement. The application of game theory to the management of national/regional fisheries is a new research frontier, as it is still much underexplored, when compared to international fisheries. This paper also summarizes the main research developments of a set of nine papers selected for this special issue on Game Theory and Fisheries.
Introduction
This Special Issue owes its origin to a Special Session on Game Theory and Fisheries Economics at the 18th Biennial Conference of the International Institute of Fisheries Economics and Trade (IIFET) held in Aberdeen, Scotland, in July 2016. The Special Session was mounted in recognition of the growing importance of the theory of strategic interaction, game theory, to fisheries economics. So successful was the Special Session that it was felt that further steps should be promptly taken. The Special Issue of this journal is the result. Several papers presented at the Special Session were, as hoped, revised and submitted for publication in this Special Issue. It was decided, however, that submissions should not be restricted to those participating in the IIFET Conference Special Session. All IIFET members, with an interest in game theory, were invited to make submissions. A game theoretic situation, let us be reminded, is deemed to arise when the actions of one “individual” have a perceptible impact upon one or more “individuals”, leading to a strategic interaction between or among the “individuals”. The relevance of the theory of such strategic interaction, game theory, to the economics of fisheries management has evolved gradually over time.