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Production Technology, Costs, and Multiproduct Industry Structure: An Application of the Long-run Profit Function to the New England Fishing Industry

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  • Dale Squires

Abstract

The long-run multiproduct profit function is developed to provide a more general procedure than the s tatic minimum cost function to examine the technological and cost det erminants of multiproduct industry structure and the likely form of a ny market equilibrium. In this approach, outputs are endogenous and t he long-run equilibrium levels of quasi-fixed factors are endogenousl y determined. The multiproduct structure of the multispecies New Engl and fishing industry and the likely multiproduct form of any open-acc ess equilibrium are examined.

Suggested Citation

  • Dale Squires, 1988. "Production Technology, Costs, and Multiproduct Industry Structure: An Application of the Long-run Profit Function to the New England Fishing Industry," Canadian Journal of Economics, Canadian Economics Association, vol. 21(2), pages 359-378, May.
    • Handle: RePEc:cje:issued:v:21:y:1988:i:2:p:359-78
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    Citations

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    Cited by:

    1. Daniel Gordon, 2015. "The Endogeneity Problem in Applied Fisheries Econometrics: A Critical Review," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(1), pages 115-125, May.
    2. Barbara Hutniczak & Niels Vestergaard & Dale Squires, 2019. "Policy Change Anticipation in the Buyback Context," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(1), pages 111-132, May.
    3. Lars Gårn Hansen & Carsten Lynge Jensen, 2014. "Jointness through vessel capacity input in a multispecies fishery," Agricultural Economics, International Association of Agricultural Economists, vol. 45(6), pages 745-756, November.
    4. Panos Fousekis & Aspasia Papakonstantinou, 1997. "Economic Capacity Utilisation And Productivity Growth In Greek Agriculture," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1‐3), pages 38-51, January.
    5. Gordon, D. V. & Gunsch, K. & Pawluk, C. V., 2003. "A natural monopoly in natural gas transmission," Energy Economics, Elsevier, vol. 25(5), pages 473-485, September.
    6. Stephen Kasperski, 2015. "Optimal Multi-species Harvesting in Ecologically and Economically Interdependent Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(4), pages 517-557, August.
    7. Singh, Rajesh & Weninger, Quinn, 2023. "Discretion rather than rules in multiple-species fisheries," ISU General Staff Papers 202311071438390000, Iowa State University, Department of Economics.
    8. Lars Gårn Hansen & Carsten Lynge Jensen, 2010. "Jointness through fishing days input in a multi-species Fishery," IFRO Working Paper 2010/8, University of Copenhagen, Department of Food and Resource Economics.
    9. Singh, Rajesh & Weninger, Quinn, 2017. "Spatial and seasonal equilibrium harvesting in quota-managed multispecies fisheries," ISU General Staff Papers 201708300700001033, Iowa State University, Department of Economics.
    10. Sean Pascoe & Simon Vieira & Catherine M. Dichmont & André E. Punt, 2011. "Optimal vessel size and output in the Australian northern prawn fishery: a restricted profit function approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 55(1), pages 107-125, January.
    11. Subal Kumbhakar & Frank Asche & Ragnar Tveteras, 2013. "Estimation and decomposition of inefficiency when producers maximize return to the outlay: an application to Norwegian fishing trawlers," Journal of Productivity Analysis, Springer, vol. 40(3), pages 307-321, December.
    12. Kasperski, Stephen, 2016. "Optimal multispecies harvesting in the presence of a nuisance species," Marine Policy, Elsevier, vol. 64(C), pages 55-63.

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