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

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  • Weninger, Quinn

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://www.econ.iastate.edu/sites/default/files/publications/papers/p4940-2004-02-27.pdf
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Bibliographic 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
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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References

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  1. 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.
  2. 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.
  3. Simar, L. & Wilson, P.W., 1999. "Statistical Inference in Nonparametric Frontier Models: the State of the Art," Papers 9904, Catholique de Louvain - Institut de statistique.
  4. 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).
  5. 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.
  6. 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.
  7. 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 & Francis Journals, vol. 35(10), pages 1191-1197.
  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. Turner, Matthew & Weninger, Quinn, 2005. "Meetings with Costly Participation: An Empirical Analysis," Staff General Research Papers 11464, Iowa State University, Department of Economics.
  10. 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.
  11. Chambers, Robert G. & Chung, Yangho & Fare, Rolf, 1996. "Benefit and Distance Functions," Journal of Economic Theory, Elsevier, vol. 70(2), pages 407-419, August.
  12. 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.
  13. 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.
  14. 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.
  15. 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.
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Cited by:
  1. 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.
  2. 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.
  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. 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.
  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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