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Buyback Programs in Commercial Fisheries: Efficiency Versus Transfers

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  • Weninger, Quinn
  • McConnell, K. E.

Abstract

A Cournot model of investment is used to characterize the pre- and post-buyback investment equilibrium for vessels operating in a total-allowable-catch-regulated fishery. Welfare effects-the net welfare gains or losses and the distributional effects-that may be expected from vessel buyback programs are identified. Net welfare effects depend on the ability of remaining vessels to replace buyback capital, the speed of capital replacement, and capital investment irreversibility. Net welfare effects are likely to be positive only under exceptional technological and capital-market conditions. A brief review of the British Columbia Pacific Salmon Revitalization Plan is presented to anchor the theoretical model.

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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 1834.

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Date of creation: 01 May 2000
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Publication status: Published in Canadian Journal of Economics, May 2000, vol. 33 no. 2, pp. 394-412
Handle: RePEc:isu:genres:1834

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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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Cited by:
  1. Fox, Kevin J. & Grafton, R. Quentin & Kompas, Tom & Che, Tuong Nhu, 2006. "Capacity reduction, quota trading and productivity: the case of a fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(2), June.
  2. Eggert, Håkan & Greaker, Mads, 2009. "Effects of Global Fisheries on Developing Countries: Possibilities for Income and Threat of Depletion," Discussion Papers dp-10-09-02-efd, Resources For the Future.
  3. Eggert, Håkan & Tveterås, Ragnar, 2004. "Potential Rent and Overcapacity in the Swedish Baltic Sea Trawl Fishery," Working Papers in Economics 152, University of Gothenburg, Department of Economics.
  4. Kevin J. Fox & R. Quentin Grafton & Tom Kompas & Tuong Nhu Che, 2003. "Productivity and capacity reduction: the case of a fishery," International and Development Economics Working Papers idec03-2, International and Development Economics.
  5. Finnoff, David & Tschirhart, John, 2008. "Linking dynamic economic and ecological general equilibrium models," Resource and Energy Economics, Elsevier, vol. 30(2), pages 91-114, May.
  6. R. Quentin Grafton & Ragnar Arnason & Trond Bjorndal & David Campbell & Harry F. Campbell & Colin W. Clark & Robin Connor & Diane P. Dupont & Rognvaldur Hannesson & Ray Hilborn & James E. Kirkley & To, 2005. "Incentive-based approaches to sustainable fisheries (now replaced by EEN0508)," Economics and Environment Network Working Papers 0501, Australian National University, Economics and Environment Network.
  7. Deacon, Robert T. & Finnoff, David & Tschirhart, John, 2011. "Restricted capacity and rent dissipation in a regulated open access fishery," Resource and Energy Economics, Elsevier, vol. 33(2), pages 366-380, May.
  8. Kevin J. Fox & R. Quentin Grafton & Tom Kompas & Tuong Nhu Che, 2003. "Capacity Reduction and Productivity: The Case of Fishery," Economics and Environment Network Working Papers 0303, Australian National University, Economics and Environment Network.

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