Productive scales of marine fisheries often show rigidities as fish stock falls, which on occasions have generated fishery collapse. In this paper we analyze the two largest fisheries in Chile as to its landings volume, and which concurrently face large fish-stock volatility. We study production-related incentives that allow fishing effort to adjust when stocks begin falling. Relying on panel data we estimate harvesting functions for industrial vessels in each fishery. Two major findings are: (i) We confirm the relevance of Translog harvesting technology, countering other fishery models which often assume catch-input elasticities that are independent of production scales; (ii) We identify productive affects that diminish the incentives to adjust fishing yields sensitive to fish abundance change but where the strength of this affect lessens as abundance falls.// A menudo la escala productiva de diversas pesquerías en el muerdo muestra escasa flexibilidad frente a descensos en la abundancia de la pesca, lo que en ocasiones genera situaciones de colapso pesquero. Aquí estudiamos las dos pesquerías con mayor volumen de desembarques en Chile y que además se caracterizan pro enfrentar gran variabilidad en su abundancia. Analizamos aspectos productivos que afectan los incentivos para ajustar a la baja el esfuerzo de pesca. Con datos de panel, estimamos funciones de producción para las flotas industriales en cada pesquería. Obtenemos dos resultados principales. Primero, confirmamos la relevancia empírica de tecnologías de captura Translog. Esto contradice una práctica frecuente en modelos bioeconómicos: considerar elasticidades captura-insumos constantes e independientes de escala de producción. Segundo, identificamos un conjunto de efectos productivos que debilitan los incentivos para ajustar a la baja el esfuerzo de pesca: rendimientos crecientes en el uso de insumos variables, los que son además reforzados por economías externas asociadas al esfuerzo agregado de búsqueda de cardúmenes, y rendimientos de pesca que son sensibles a cambios en la abundancia, pero que en la fuerza de este efecto disminuye al mermar la abundancia.
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Find related papers by JEL classification: Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data L7 - Industrial Organization - - Industry Studies: Primary Products and Construction
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