Risk tolerance and control perception in a game-theoretic bioeconomic model for small-scale fisheries.

Cooperation is generally the most advantageous strategy for the group; however, on an individual level, cheating is frequently more attractive. In a fishery, one can choose to cooperate by fishing only the regulated amount or not to cooperate, by fishing to maximize profits. Top-down management can help to emulate a cooperative result in fisheries, but it is costly and not always a viable alternative for development states.