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The Gordon-Schaefer Model

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price p
unit cost of effort c
open access (OA)
maximum economic yield (MEY)
maximum sustainable yield (MSY)
resource rent in MEY equilibrium
resource rent in MSY equilibrium
resource rent allocated effort
The Gordon–Schaefer model is a bioeconomic comparative static fishery model based on logistic biological growth, constant harvest price, constant unit cost of effort, and harvest linear in stock biomass and fishing effort.
TR
denotes total revenue,
TC
total cost,
AR
average revenue (TR/E),
MR
marginal revenue, and
MC
marginal cost.
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