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Buyback Programs: Goals, Objectives, and Industry Restructuring in Fisheries

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  • Kirkley, James E.
  • Walden, John B.
  • Waters, James R.

Abstract

National Oceanic and Atmospheric Administration Fisheries has conducted several buyback programs to reduce harvesting capacity in fisheries. These programs have attempted to maximize capacity reduction given a fixed budget. However, restructuring issues have not been considered. We explore the possibility of satisfying three different buyback objective We examine the black sea bass trap fishery and determine the number of vessels given different allowable catch levels and objectives of maximizing technical efficiency, capacity utilization, and vessels in the fishery. We find considerable variation in the number of vessels allowed to remain in the fishery given the different objectives.

Suggested Citation

  • Kirkley, James E. & Walden, John B. & Waters, James R., 2004. "Buyback Programs: Goals, Objectives, and Industry Restructuring in Fisheries," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(2), pages 1-13, August.
    • Handle: RePEc:ags:joaaec:43422
    DOI: 10.22004/ag.econ.43422
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    References listed on IDEAS

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    1. Lawrence R. Klein, 1958. "The Measurement of Capacity," Cowles Foundation Discussion Papers 49, Cowles Foundation for Research in Economics, Yale University.
    2. Fare, Rolf & Grosskopf, Shawna & Kirkley, Jim, 2000. "Multi-output Capacity Measures and Their Relevance for Productivity," Bulletin of Economic Research, Wiley Blackwell, vol. 52(2), pages 101-112, April.
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    Cited by:

    1. Ray, Subhash C. & Walden, John & Chen, Lei, 2021. "Economic measures of capacity utilization: A nonparametric short-run cost function analysis," European Journal of Operational Research, Elsevier, vol. 293(1), pages 375-387.

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