Entry deterrence and overexploitation of the fishery

Two Stackelberg game models (open access and restricted entry) of a poaching fishery situation are proposed. Only the long-run noncooperative solution of managing resource stocks is assumed feasible. The optimal stock under open access for poachers is shown to be lower than under restricted entry and the latter to be lower than under exclusive ownership. Deterrence is completely successful under open access, but is partially successful only under restricted entry. The game models considered are shown to be equivalent to a constrained ownership fishery control problem or its surrogate.