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Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery

Author

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  • Larkin, Sherry L.
  • Keithly, Walter
  • Adams, Charles M.
  • Kazmierczak, Richard F.

Abstract

Declining fishery stocks, increasing fishing effort, and adverse market conditions have produced difficult financial situations for fishermen worldwide. Several high-valued fisheries are considered to be overcapitalized. The purchase and permanent retirement of fishing vessels and/or permits under a buyback program is one approach for reducing fishing capacity. Evidence from previous programs, however, suggests that buybacks are not a panacea for solving overcapacity problems. Whether such programs can help rebuild stocks and improve the financial condition of fleets in any specific fishery depends on a multitude of factors. We consider the potential of a buyback program for the U.S. Atlantic shark fishery.

Suggested Citation

  • Larkin, Sherry L. & Keithly, Walter & Adams, Charles M. & Kazmierczak, Richard F., 2004. "Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 36(2), pages 317-332, August.
  • Handle: RePEc:cup:jagaec:v:36:y:2004:i:02:p:317-332_02
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    Cited by:

    1. Musengezi, Jessica D. & Rossi, Frederick J. & Larkin, Sherry L., 2006. "A Double Hurdle Model of Preferences for a Proposed Capacity Reduction Program in the Atlantic Shark Fishery," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35361, Southern Agricultural Economics Association.

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