Open access fishery
Fishery in which there is no limit on the number of operators or vessels (c.f. Limited entry fishery). Such a fishery is liable to suffer the “tragedy of the commons.” Under open access, a fishery operates with a harvest and effort that result in total revenue equalling costs, with no economic profits being generated. An open access equilibrium is a point where there is no limit on the number of operators or vessels allowed to operate in the fishery.