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The Effects of ITQ Management on Fishermen’s Welfare When the Processing Sector Is Imperfectly Competitive

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  • David M. McEvoy
  • Sylvia Brandt
  • Sven Anders

Abstract

In this paper we use a general model of imperfect competition to predict welfare changes within an open-access fishery after it transitions to individual transferable quota (ITQ) management. Although related research has explored the effects of market power in the harvesting sector on ITQ performance, none has considered the implications of an imperfectly competitive processing sector. Addressing this question, we find that although fishermen should expect to gain from ITQs under perfect competition, they may suffer welfare losses if the processing sector is imperfectly competitive.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 85 (2009)
Issue (Month): 3 ()
Pages: 470-484

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Handle: RePEc:uwp:landec:v:85:y:2009:i:3:p:470-484

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  1. Brandt, Sylvia & McEvoy, David, 2006. "Distributional effects of property rights: Transitions in the Atlantic Herring fishery," Marine Policy, Elsevier, vol. 30(6), pages 659-670, November.
  2. Weninger, Quinn, 1998. "Assessing Efficiency Gains From Individual Transferable Quotas: An Application to the Mid-Atlantic Surf Clam and Ocean Quahog Fishery," Staff General Research Papers 5065, Iowa State University, Department of Economics.
  3. Boyce, John R., 2004. "Instrument choice in a fishery," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 183-206, January.
  4. Squires, Dale & Grafton, R. Quentin & Alam, Mohammed Ferdous & Omar, Ishak Haji, 2003. "Technical efficiency in the Malaysian gill net artisanal fishery," Environment and Development Economics, Cambridge University Press, vol. 8(03), pages 481-504, July.
  5. Shalit, Haim & Yitzhaki, Shlomo, 2002. " Estimating Beta," Review of Quantitative Finance and Accounting, Springer, vol. 18(2), pages 95-118, March.
  6. Homans, Frances R. & Wilen, James E., 2005. "Markets and rent dissipation in regulated open access fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 381-404, March.
  7. Adesoji Adelaja & Julia Menzo & Bonnie McCay, 1998. "Market Power, Industrial Organization and Tradeable Quotas," Review of Industrial Organization, Springer, vol. 13(5), pages 589-601, October.
  8. Steve McCorriston, 2002. "Why should imperfect competition matter to agricultural economists?," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 29(3), pages 349-371, July.
  9. Weninger, Quinn & Grafton, Quinten R. & Kirkley, James E. & Squires, Dale, 2000. "A Guide to Economic Evaluation of Individual Transferable Quota Fisheries," Staff General Research Papers 10574, Iowa State University, Department of Economics.
  10. Heaps, Terry, 2003. "The effects on welfare of the imposition of individual transferable quotas on a heterogeneous fishing fleet," Journal of Environmental Economics and Management, Elsevier, vol. 46(3), pages 557-576, November.
  11. Terrebonne R. Peter, 1995. "Property Rights and Entrepreneurial Income in Commercial Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 28(1), pages 68-82, January.
  12. Acheson, James M, 1985. "The Maine Lobster Market: Between Market and Hierarchy," Journal of Law, Economics and Organization, Oxford University Press, vol. 1(2), pages 385-98, Fall.
  13. Richard J. Sexton, 2000. "Industrialization and Consolidation in the U.S. Food Sector: Implications for Competition and Welfare," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1087-1104.
  14. Anderson, Lee G., 1991. "A note on market power in ITQ fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 21(3), pages 291-296, November.
  15. Mingxia Zhang, 1997. "The Effects of Imperfect Competition on the Size and Distribution of Research Benefits," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1252-1265.
  16. Shu-Yu Huang & Richard J. Sexton, 1996. "Measuring Returns to an Innovation in an Imperfectly Competitive Market: Application to Mechanical Harvesting of Processing Tomatoes in Taiwan," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 558-571.
  17. Richard J. Sexton & Mingxia Zhang, 1996. "A Model of Price Determination for Fresh Produce with Application to California Iceberg Lettuce," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 924-934.
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Cited by:
  1. Blomquist, Johan & Hammarlund, Cecilia & Waldo, Staffan, 2013. "Time for Fishing: Bargaining Power in the Baltic Swedish Cod Fishery," Working Papers 2013:35, Lund University, Department of Economics.

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