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Economic Benefits of Management Reform in the Gulf of Mexico Grouper Fishery: A Semi-parametric Analysis

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  • Quinn Weninger

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Abstract

This paper uses a semi-parametric empirical model to estimate the economic benefits of adopting a property rights-based management program in the Gulf of Mexico grouper fishery. The analysis predicts that a rights-based fleet will be comprised of fewer, more cost efficient boats than under the current controlled access management program. Results indicate that in the year of our data, 1993, the smaller, more productive fleet could harvest the allowable reef fish catch at a cost saving of $2.92-$7.07 million, 12-30% less than under controlled access management. Recent tightening of controlled access regulations suggest that the benefits from management reform could be even larger in the current day fishery.

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File URL: http://hdl.handle.net/10.1007/s10640-008-9203-2
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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): 41 (2008)
Issue (Month): 4 (December)
Pages: 479-497

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Handle: RePEc:kap:enreec:v:41:y:2008:i:4:p:479-497

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

Related research

Keywords: Individual fishing quotas; Semi-parametric efficiency analysis; Fleet restructuring; Q2; D2;

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References

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  1. Niels Vestergaard & Frank Jensen & Henning P. Jørgensen, 2005. "Sunk Cost and Entry-Exit Decisions under Individual Transferable Quotas: Why Industry Restructuring Is Delayed," Land Economics, University of Wisconsin Press, vol. 81(3).
  2. Segerson, Kathleen & Squires, Dale, 1993. "Capacity Utilization under Regulatory Constraints," The Review of Economics and Statistics, MIT Press, vol. 75(1), pages 76-85, February.
  3. Turner, Matthew & Weninger, Quinn, 2005. "Meetings with Costly Participation: An Empirical Analysis," Staff General Research Papers 11464, Iowa State University, Department of Economics.
  4. Léopold Simar & Paul Wilson, 2000. "Statistical Inference in Nonparametric Frontier Models: The State of the Art," Journal of Productivity Analysis, Springer, vol. 13(1), pages 49-78, January.
  5. Chambers, Robert G. & Chung, Yangho & Fare, Rolf, 1996. "Benefit and Distance Functions," Journal of Economic Theory, Elsevier, vol. 70(2), pages 407-419, August.
  6. Weninger, Quinn & Strand, Ivar E., 2003. "An Empirical Analysis of Production Distortions in the Mid-Atlantic Surf Clam and Ocean Quahog Fishery," Staff General Research Papers 10829, Iowa State University, Department of Economics.
  7. Simar, Leopold & Wilson, Paul W., 2007. "Estimation and inference in two-stage, semi-parametric models of production processes," Journal of Econometrics, Elsevier, vol. 136(1), pages 31-64, January.
  8. Dupont, Diane P. & Grafton, R. Quentin & Kirkley, James & Squires, Dale, 2002. "Capacity utilization measures and excess capacity in multi-product privatized fisheries," Resource and Energy Economics, Elsevier, vol. 24(3), pages 193-210, June.
  9. Squires Dale & Alauddin Mohammad & Kirkley James, 1994. "Individual Transferable Quota Markets and Investment Decisions in the Fixed Gear Sablefish Industry," Journal of Environmental Economics and Management, Elsevier, vol. 27(2), pages 185-204, September.
  10. Stewart, James & Walshe, Kim, 2008. "Compliance costs and the small fisher: A study of exiters from the New Zealand fishery," Marine Policy, Elsevier, vol. 32(1), pages 120-131, January.
  11. James Kirkley & Catherine Morrison Paul & Dale Squires, 2002. "Capacity and Capacity Utilization in Common-pool Resource Industries," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 71-97, June.
  12. Quinn Weninger, 1998. "Assessing Efficiency Gains from Individual Transferable Quotas: An Application to the Mid-Atlantic Surf Clam and Ocean Quahog Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 750-764.
  13. Grafton, R Quentin & Squires, Dale & Fox, Kevin J, 2000. "Private Property and Economic Efficiency: A Study of a Common-Pool Resource," Journal of Law and Economics, University of Chicago Press, vol. 43(2), pages 679-713, October.
  14. Martin D. Smith, 2000. "Spatial Search and Fishing Location Choice: Methodological Challenges of Empirical Modeling," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1198-1206.
  15. H. Fried & C. Lovell & S. Schmidt & S. Yaisawarng, 2002. "Accounting for Environmental Effects and Statistical Noise in Data Envelopment Analysis," Journal of Productivity Analysis, Springer, vol. 17(1), pages 157-174, January.
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Citations

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Cited by:
  1. 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.
  2. Matthew N. Reimer & Joshua K. Abbott & James E. Wilen, 2013. "Unraveling the Multiple Margins of Rent Generation from Individual Transferable Quotas," Working Papers 2013-03, University of Alaska Anchorage, Department of Economics.
  3. Weninger, Quinn, 2008. "Individual Fishing Quotas in the Eastern Gulf of Mexico Grouper Fishery: Fleet Restructuring, Effort Reduction and Cost Savings," Staff General Research Papers 12890, Iowa State University, Department of Economics.
  4. Squires, Dale & Jeon, Yongil & Grafton, R. Quentin & Kirkley, James, 2010. "Controlling excess capacity in common-pool resource industries: the transition from input to output controls," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), September.
  5. Chang, Hung-Hao & Boisvert, Richard N. & Hung, Ling-Yi, 2010. "Land subsidence, production efficiency, and the decision of aquacultural firms in Taiwan to discontinue production," Ecological Economics, Elsevier, vol. 69(12), pages 2448-2456, October.

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