Fleet Restructuring, Rent Generation, and the Design of Individual Fishing Quota Programs: Empirical Evidence from the Pacific Coast Groundfish Fishery
AbstractThis article characterizes anticipated changes in fleet structure, vessel harvesting activity, and economic performance in the Pacific Coast groundfish fishery under an individual fishing quota management program. Results suggest that the current fleet of 117 vessels will be reduced by roughly 50%â€“66% to 40â€“-60 vessels, resulting in annual cost savings of $18â€“$22 million (based on 2004 price and cost estimates). However, cost savings could be significantly less if restrictions on quota trading across vessels are incorporated into the program design. Alternative modes of collecting fees to fund program administration and their impact on fleet size and total fishery value are also studied. We conclude that a program of individual fishing quotas, if carefully designed, can be an attractive alternative for management of the Pacific Coast groundfish fishery.
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 24 (2009)
Issue (Month): 4 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Individual fishing quotas; scale and technical efficiency; fleet restructuring; Environmental Economics and Policy; Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods; Q2; D24;
Find related papers by JEL classification:
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Grafton R. Quentin, 1994. "A Note on Uncertainty and Rent Capture in an ITQ Fishery," Journal of Environmental Economics and Management, Elsevier, vol. 27(3), pages 286-294, November.
- Keisaku Higashida & Yasuhiro Takarada, 2011. "On Efficiency of Individual Transferable Quotas (ITQs) through Reduction of Vessels," Discussion Paper Series 68, School of Economics, Kwansei Gakuin University, revised Jan 2011.
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