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Generating Enhanced Fishery Rents by Internalizing Product Quality Characteristics

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  • Sherry Larkin

    ()

  • Gil Sylvia

Abstract

This paper demonstrates howadditional rents are generated in a fisherycharacterized by intraseasonal variation infish characteristics, including size,condition, and composition. Based on anexpanded conceptual model of the optimalharvest rule, fish characteristics affect preand post harvest production yields and outputprices. A dynamic empirical model, which uses asystem of quality characteristics and anhedonic equation, illustrates the complexrelationships and management choices associatedwith internalizing seafood qualitycharacteristics in a hake fishery. The modelretains the regulated open access managementsystem, but controls intertemporal andintersectoral quotas, production portfolios,and total allowable catch. Results demonstratethat including revenue-side effects frominternalizing fish quality can generatesignificantly greater rents and reduce therelative benefits of increased productionyields. If excluded, bioeconomic models canunderestimate the level of regulatory rentdissipation and overemphasize managementobjectives such as full utilization, whichcould misdirect processing decisions and resultin a suboptimal resource management plan.Implications for data collection,multidisciplinary analysis, and improvements inmarine resource management are discussed. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:EARE.0000023822.46497.3c
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 28 (2004)
Issue (Month): 1 (May)
Pages: 101-122

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Handle: RePEc:kap:enreec:v:28:y:2004:i:1:p:101-122

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: bioeconomic model; fisheries management; fish processing; golden rule; hedonic price function; intrinsic fish quality; Pacific whiting; recovery rate;

References

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  1. Ola Flaaten, 1983. "The Optimal Harvesting of a Natural Resource with Seasonal Growth," Canadian Journal of Economics, Canadian Economics Association, vol. 16(3), pages 447-62, August.
  2. Michael T. Carroll & James L. Anderson & Josué Mart�nez-Garmendia, 2001. "Pricing U.S. North Atlantic bluefin tuna and implications for management," Agribusiness, John Wiley & Sons, Ltd., vol. 17(2), pages 243-254.
  3. Larkin, Sherry L. & Sylvia, Gilbert, 1999. "Firm-Level Hedonic Analysis Of U.S. Produced Surimi: Implications For Processors And Resource Managers," Marine Resource Economics, Marine Resources Foundation, vol. 14(3).
  4. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
  5. Anderson, Lee G., 1989. "Optimal Intra- and Interseasonal Harvesting Strategies when Price Varies with Individual Size," Marine Resource Economics, Marine Resources Foundation, vol. 6(2).
  6. Gilbert, David John, 1988. "Use of a Simple Age-Structured Bioeconomic Model to Estimate Optimal Long-Run Surpluses," Marine Resource Economics, Marine Resources Foundation, vol. 5(1).
  7. Freese, Stephen & Glock, James & Squires, Dale, 1995. "Direct allocation of resources and cost-benefit analysis in fisheries: an application to pacific whiting," Marine Policy, Elsevier, vol. 19(3), pages 199-211, May.
  8. Kenneth E. McConnell & Ivar E. Strand, 2000. "Hedonic Prices for Fish: Tuna Prices in Hawaii," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(1), pages 133-144.
  9. Sherry L. Larkin & Gilbert Sylvia, 1999. "Intrinsic Fish Characteristics and Intraseason Production Efficiency: A Management-Level Bioeconomic Analysis of a Commercial Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 29-43.
  10. Bjorndal, Trond, 1988. "Optimal Harvesting of Farmed Fish," Marine Resource Economics, Marine Resources Foundation, vol. 5(2).
  11. Colin W. Clark & Gordon R. Munro, 1980. "Fisheries and the Processing Sector: Some Implications for Management Policy," Bell Journal of Economics, The RAND Corporation, vol. 11(2), pages 603-616, Autumn.
  12. J. Douglas MacDonald & R. L. Mazany, 1984. "Quality Improvement: Panacea for the Atlantic Fishing Industry?," Canadian Public Policy, University of Toronto Press, vol. 10(3), pages 278-286, September.
  13. Christensen, Steen & Vestergaard, Niels, 1993. "A Bioeconomic Analysis of the Greenland Shrimp Fishery in the Davis Strait," Marine Resource Economics, Marine Resources Foundation, vol. 8(4).
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Cited by:
  1. Larkin, Sherry L. & Sylvia, Gilbert & Harte, Michael & Quigley, Kathryn, 2006. "Optimal Rebuilding of Fish Stocks in Different Nations: Bioeconomic Lessons for Regulators," Marine Resource Economics, Marine Resources Foundation, vol. 21(4).

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