This study explores the ecological and economic impacts of interactions between escaped farmed and wild Atlantic salmon (Salmo salar, Salmonidae) over generations. An age- and stage-structured bioeconomic model is developed. The biological part of the model includes age-specific life-history traits such as survival rates, fecundity and spawning successes for wild and escaped farmed salmon, as well as their hybrids, while the economic part takes account of use and non-use values of fish stock. The model is simulated under three scenarios using data from the Atlantic salmon fishery and salmon farming in Norway. The social welfare is derived from harvest and wild salmon while the economic benefits of fishing comprise both sea and river fisheries. The results reveal that the wild salmon stock is gradually replaced by salmon with farmed origin, while the total social welfare and economic benefit decline, although not at the same rate as the wild salmon stock.