Sustainable yield in fisheries

The sustainable yield of natural capital is the ecological yield that can be extracted without reducing the base of capital itself, i.e. the surplus required to maintain ecosystem services at the same or increasing level over time. This yield usually varies over time with the needs of the ecosystem to maintain itself, e.g. a forest that has recently suffered a blight or flooding or fire will require more of its own ecological yield to sustain and re-establish a mature forest. While doing so, the sustainable yield may be much less.

In fisheries, the basic natural capital, or virgin population, must decrease with extraction. At the same time productivity increases. Hence, sustainable yield would be within the range in which the natural capital together with its production are able to provide satisfactory yield. It may be very difficult to quantify sustainable yield, because dynamic ecological conditions and other factors not related to harvesting induce changes and fluctuations in both the natural capital and its productivity.

In population ecology and economics, maximum sustainable yield or MSY is, theoretically, the largest yield/catch that can be taken from a species' stock over an indefinite period. Under the assumption of logistic growth, the MSY will be exactly at half the carrying capacity of a species, as this is the stage at when population growth is highest. The maximum sustainable yield is usually higher than the optimum sustainable yield.

This logistic model of growth is produced by a population introduced to a new habitat or with very poor numbers going through a lag phase of slow growth at first. Once it reaches a foothold population it will go through a rapid growth rate that will start to level off once the species approaches carrying capacity. The idea of maximum sustained yield is to decrease population density to the point of highest growth rate possible. This changes the number of the population, but the new number can be maintained indefinitely, ideally.

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