Abstract
The American lobster (Homarus americanus) fishery is currently the most valuable fishery on the Atlantic coasts of both the USA and Canada based on ex-vessel value. Lobster conservation policies have traditionally focused on technical restrictions such as minimum size requirements, v-notching, and a prohibition on taking egg-bearing females to protect the resource, rather than direct controls on fishing effort or catch. However, in 2005 the Atlantic States Marine Fisheries Commission adopted a plan for the southern New England lobster management area (Area 2) that establishes a structure for limiting the number of license holders and the number of traps each lobsterman can have in the water. In this article, a bio-economic modeling exercise is employed to examine the biological and economic impacts of reductions to the level of fishing effort in a fishery that is modeled to represent the full-time lobster fishing fleet in Area 2. Model results show that a reduction in fishing effort has the potential to: ...
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