| Abstract: | Ongoing efforts to negotiate agreements on management of transboundary marine fisheries tend to be arduous and frustrating, often collapsing into spectacular “fish wars” that leave fishing communities impoverished and fish stocks decimated. Game theory models can provide insights into why this is so, and suggest ways in which cooperative agreements might be crafted to overcome the difficulties. This article illustrates these themes through a model of a bi-national “interception fishery.” The central focus of the analysis is on instabilities that result from stochastic variability and incomplete and asymmetric information. |
