Abstract
<i>An age-structured bioeconomic model was constructed to determine optimal patterns of exploitation for the U.S. Atlantic sea scallop fishery. Results indicated that economic rents are maximized by engaging in pulse fishing strategies, whereby fishing only occurs following a multi-year closure period. Closures allow biomass to accumulate undisturbed for several years in a row, leading to the harvest of premium-size scallops upon reopening of the fishing grounds. Closures also result in substantial reductions in operating fishing costs. The rotational harvesting strategy was found to be robust with respect to a number of assumptions in the model. Policy implications are discussed.</i> (JEL Q22)
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