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The New Fisheries Economics: Incentives Across Many Margins


  • Martin D. Smith

    () (Nicholas School of the Environment and Department of Economics, Duke University, Durham, North Carolina 27701)


New research in fisheries economics addresses incentives across many margins. These margins include within-season effects, incentives to harvest different ages and sizes of fish, responses to ecological disturbances, spatial choices, and multispecies interactions. Even developments in global seafood markets are relevant for understanding contemporary fisheries management. What connects this diverse literature is the attempt to align incentives of harvesters with the objectives of optimal management and reflections on when delineating policy instruments along particular margins is worthwhile. This theme echoes the older fisheries bioeconomic literature that first identified the commons problem and proposed solutions to it using an elegant but now principally metaphorical model of a single stock.

Suggested Citation

  • Martin D. Smith, 2012. "The New Fisheries Economics: Incentives Across Many Margins," Annual Review of Resource Economics, Annual Reviews, vol. 4(1), pages 379-402, August.
  • Handle: RePEc:anr:reseco:v:4:y:2012:p:379-402

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    Cited by:

    1. Poe, Melissa R. & Levin, Phillip S. & Tolimieri, Nick & Norman, Karma, 2015. "Subsistence fishing in a 21st century capitalist society: From commodity to gift," Ecological Economics, Elsevier, vol. 116(C), pages 241-250.
    2. Ankamah-Yeboah, Isaac & Nielsen, Max & Nielsen, Rasmus, 2016. "Price premium of organic salmon in Danish retail sale," Ecological Economics, Elsevier, vol. 122(C), pages 54-60.
    3. Standal, Dag & Sønvisen, Signe Annie & Asche, Frank, 2016. "Fishing in deep waters: The development of a deep-sea fishing coastal fleet in Norway," Marine Policy, Elsevier, vol. 63(C), pages 1-7.
    4. Kvamsdal, Sturla F. & Maroto, José M. & Morán, Manuel & Sandal, Leif K., 2016. "A bridge between continuous and discrete-time bioeconomic models: Seasonality in fisheries," Discussion Papers 2016/20, Norwegian School of Economics, Department of Business and Management Science.
    5. Julia Bronnmann & Frank Asche, 2016. "The Value of Product Attributes, Brands and Private Labels: An Analysis of Frozen Seafood in Germany," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(1), pages 231-244, February.
    6. Jardine, Sunny L. & Sanchirico, James N., 2015. "Fishermen, markets, and population diversity," Journal of Environmental Economics and Management, Elsevier, vol. 74(C), pages 37-54.
    7. repec:eee:ecomod:v:364:y:2017:i:c:p:124-131 is not listed on IDEAS
    8. Kvamsdal, Sturla F. & Maroto, José M. & Morán, Manuel & Sandal, Leif K., 2016. "A Bellman approach to periodic optimization problems," Discussion Papers 2016/19, Norwegian School of Economics, Department of Business and Management Science.
    9. Huang, Pei, 2014. "An Inverse Demand System for Blue Crab in the Chesapeake Bay: Endogeneity and Seasonality," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169827, Agricultural and Applied Economics Association.
    10. Joshua K. Abbott & Alan C. Haynie & Matthew N. Reimer, 2015. "Hidden Flexibility: Institutions, Incentives, and the Margins of Selectivity in Fishing," Land Economics, University of Wisconsin Press, vol. 91(1), pages 169-195.
    11. Asche, Frank & Bjørndal, Marianne Tranberg & Bjørndal, Trond, 2014. "Development in fleet fishing capacity in rights based fisheries," Marine Policy, Elsevier, vol. 44(C), pages 166-171.
    12. Chin-Hwa Jenny Sun & Fu-Sung Chiang & Patrice Guillotreau & Dale Squires, 2015. "Fewer Fish for Higher Profits? Price Response and Economic Incentives in Global Tuna Fisheries Management," Working Papers hal-01110771, HAL.
    13. Knútsson, Ögmundur & Kristófersson, Daði Már & Gestsson, Helgi, 2016. "The effects of fisheries management on the Icelandic demersal fish value chain," Marine Policy, Elsevier, vol. 63(C), pages 172-179.

    More about this item


    bioeconomics; fisheries management; intraseasonal; life history; multispecies; spatial; marine reserve; bycatch; growth overfishing; gear selectivity; seafood markets; aquaculture;

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery


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