This book consists of three essays that explore the present issues on both commercial and recreational fishery management in the United States of America. It reviews recent development and different management strategies in fisheries, which shows the need to expand and improve the present fishery management in order to entail sustainability of resources as well as the economic well-being of the fishery participants. The author describes how rights-based cooperative approach in the form of private property rights may provide an incentive for the rational management of fisheries. In the second essay, he develops a theoretical modelling of a recreational fishery, integrating heterogeneity in decision-making processes among recreational fishermen based on their objectives and goals. The third essay is based on an empirical analysis that examines the technical efficiency of fishing fleets and subsequently, proposes the rights-based cooperative management as a way to improve the technical inefficiency. This book is most suitable for fishery managers, students and scientists who are studying, working or researching in fisheries management.