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How can we manage a so-called renewable natural resource such as a fishery when we don't know how renewable it really is? Crutchfield and Zellner developed a dynamic and highly successful economic approach to this problem, drawing on extensive data from the Pacific halibut industry. Long out-of-print, this book presents a complete reprint of Crutchfield and Zellner's pioneering study, together with a new introduction by the authors and four new papers by other scholars. These new studies cover the history of the Pacific halibut industry as well as the general and specific contributions of the original work to the fields of resource economics and management.