Maintaining Ecosystem and Economic Structure in a Three-Species Dynamical System in Chesapeake Bay

We consider a three-species fish dynamical system in Chesapeake Bay consisting of the Atlantic menhaden as the prey and its two competing predators, the striped bass and the catfish. Building on our previous work in this system, we consider the issue of balancing economic harvesting goals (financial gain for fishermen) with ecological harvesting goals (non-extinction of species). In particular, we investigate the bionomic equilibria, maximum sustainable yield, and the maximum economic yield. Analytical computations and numerical simulations are employed to provide some mathematical guidance on fisheries management policies.