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Individual Fishing Quotas in the Eastern Gulf of Mexico Grouper Fishery: Fleet Restructuring, Effort Reduction and Cost Savings

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  • Weninger, Quinn

Abstract

This paper estimates a structural model of multiple-species harvesting costs in the eastern Gulf of Mexico reef fish fishery. The calibrated model is used to predict fleet size, vessel-level harvesting activity and fleet-wide revenues and costs that are expected under a proposed individual fishing quota (IFQ) management program for grouper species. Results suggest that significant fleet downsizing, scale economies and pure efficiency gains will emerge under IFQs. Overall, IFQs appear to be an attractive alternative to the current controlled access management program in the fishery.

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File URL: http://www.econ.iastate.edu/sites/default/files/publications/papers/p3877-2008-03-28.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 12890.

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Date of creation: 28 Mar 2008
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Handle: RePEc:isu:genres:12890

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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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Related research

Keywords: Individual fishing quotas; targeting costs; scale and technical efficiency; fleet re- structuring;

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References

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  1. McConnell, Kenneth E. & Price, Michael, 2006. "The lay system in commercial fisheries: Origin and implications," Journal of Environmental Economics and Management, Elsevier, vol. 51(3), pages 295-307, May.
  2. Smith, Martin D. & Zhang, Junjie & Coleman, Felicia C., 2008. "Econometric modeling of fisheries with complex life histories: Avoiding biological management failures," Journal of Environmental Economics and Management, Elsevier, vol. 55(3), pages 265-280, May.
  3. Squires, Dale & Campbell, Harry & Cunningham, Stephen & Dewees, Christopher & Grafton, R Quentin & Herrick, Samuel F & Kirkley, James & Pascoe, Sean & Salvanes, Kjell & Shallard, Bruce & Turris, Bruce, 1998. "Individual transferable quotas in multispecies fisheries," Marine Policy, Elsevier, vol. 22(2), pages 135-159, March.
  4. Weninger, Quinn & Waters, James R., 2003. "Economic benefits of management reform in the northern Gulf of Mexico reef fish fishery," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 207-230, September.
  5. Weninger, Quinn & Just, Richard E., 1997. "An Analysis of Transition From Limited Entry to Transferable Quota: Non-Marshallian Principles for Fisheries Management," Staff General Research Papers 5225, Iowa State University, Department of Economics.
  6. Quinn Weninger, 2008. "Economic Benefits of Management Reform in the Gulf of Mexico Grouper Fishery: A Semi-parametric Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 41(4), pages 479-497, December.
  7. Newell, Richard G. & Sanchirico, James N. & Kerr, Suzi, 2005. "Fishing quota markets," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 437-462, May.
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