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

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Author Info
Weninger, Quinn

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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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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 11178.

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Date of creation: 27 Feb 2004
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Publication status: Published in Environmental and Resource Economics, February 2008, Vol. 41, pp. 479-497.
Handle: RePEc:isu:genres:11178

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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Related research
Keywords: Individual fishing quotas; semi-parametric efficiency analysis; fleet restructuring;

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Find related papers by JEL classification:
Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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References listed on IDEAS
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.:
  1. Grafton, R.Q. & Squires, D. & Fox, K.J., 1998. "Private Property and Economic Efficiency: A Study of a Common-Pool Resource," Working Papers 9804e, University of Ottawa, Department of Economics.
    Other versions:
  2. 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. [Downloadable!] (restricted)
  3. Weninger, Quinn, 2002. "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.
  4. 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. [Downloadable!] (restricted)
  5. 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. [Downloadable!] (restricted)
  6. 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). [Downloadable!] (restricted)
  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. [Downloadable!] (restricted)
  8. Chambers, Robert G. & Chung, Yangho & Fare, Rolf, 1996. "Benefit and Distance Functions," Journal of Economic Theory, Elsevier, vol. 70(2), pages 407-419, August. [Downloadable!] (restricted)
  9. Matthew Turner & Quinn Weninger, 2005. "Meetings with Costly Participation: An Empirical Analysis," Review of Economic Studies, Blackwell Publishing, vol. 72(1), pages 247-268, 01. [Downloadable!] (restricted)
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  10. Walden, John B., 2006. "Estimating Vessel Efficiency Using a Bootstrapped Data Envelopment Analysis Model," Marine Resource Economics, Marine Resources Foundation, vol. 21(2). [Downloadable!]
  11. Q. Weninger & I. E. Strand, 2003. "An empirical analysis of production distortions in the mid-Atlantic surf clam and ocean quahog fishery," Applied Economics, Taylor and Francis Journals, vol. 35(10), pages 1191-1197, January. [Downloadable!] (restricted)
    Other versions:
  12. 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. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. 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. [Downloadable!]
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