Technical change in fisheries

Technical change in fisheries is an under-researched area in resource economics and management. This is surprising, because technical progress is the main driver of the development in fishing power and capacity. This article reviews the recent research and development in technology that have occurred in fisheries. New policy implications of introducing technical change into the standard bioeconomic model are illustrated. Bycatch saving technical change is critical to bycatch reduction and ecosystem based fisheries management, and optimal policies cost-effectively reduce bycatch, create incentives to induce bycatch saving technical change, and establish technology policy for research and development.