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Rent dissipation and efficient rationalization in for-hire recreational fishing

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  • Abbott, Joshua K.
  • Wilen, James E.

Abstract

Recreational fisheries are increasingly important in fisheries management; for some species, recreational take rivals or exceeds the amount harvested by commercial fishermen. Most recreational fisheries are regulated with gear restrictions, bag limits, and time/area closures, but there is increasing interest in the market-based solutions employed in commercial fisheries -- this despite the lack of an adequate bioeconomic theory of the joint commercial/recreational aspects of many recreational fisheries. This paper integrates a detailed production specification with traditional bioeconomic tools in order to better understand the implications of rationalization schemes targeted at the charter sector. While confirming some of the qualitative conclusions of the commercial fisheries literature on open access and regulated open access our model also generates rich and novel predictions with respect to input choices, the number of vessels and congestion externalities. We devise a system of instruments that generate efficient outcomes and extensively discuss issues associated with their real-world implementation.

Suggested Citation

  • Abbott, Joshua K. & Wilen, James E., 2009. "Rent dissipation and efficient rationalization in for-hire recreational fishing," Journal of Environmental Economics and Management, Elsevier, vol. 58(3), pages 300-314, November.
  • Handle: RePEc:eee:jeeman:v:58:y:2009:i:3:p:300-314
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    References listed on IDEAS

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    1. McConnell, Kenneth E. & Sutinen, Jon G., 1979. "Bioeconomic models of marine recreational fishing," Journal of Environmental Economics and Management, Elsevier, vol. 6(2), pages 127-139, June.
    2. Abbott, Joshua & Maharaj, Vishwanie & Wilen, James E., 2009. "Designing ITQ programs for commercial recreational fishing," Marine Policy, Elsevier, vol. 33(5), pages 766-774, September.
    3. Johnston, Robert J. & Holland, Daniel S. & Maharaj, Vishwanie & Campson, Tammy Warner, 2007. "Fish harvest tags: An alternative management approach for recreational fisheries in the US Gulf of Mexico," Marine Policy, Elsevier, vol. 31(4), pages 505-516, July.
    4. Squires, Dale, 1987. "Fishing effort: Its testing, specification, and internal structure in fisheries economics and management," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 268-282, September.
    5. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    6. Massey, D. Matthew & Newbold, Stephen C. & Gentner, Brad, 2006. "Valuing water quality changes using a bioeconomic model of a coastal recreational fishery," Journal of Environmental Economics and Management, Elsevier, vol. 52(1), pages 482-500, July.
    7. Sutinen, Jon G. & Johnston, Robert J., 2003. "Angling management organizations: integrating the recreational sector into fishery management," Marine Policy, Elsevier, vol. 27(6), pages 471-487, November.
    8. Anderson Lee G., 1993. "Toward a Complete Economic Theory of the Utilization and Management of Recreational Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 24(3), pages 272-295, May.
    9. C. Richard Shumway & Rulon D. Pope & Elizabeth K. Nash, 1984. "Allocatable Fixed Inputs and Jointness in Agricultural Production: Implications for Economic Modeling," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(1), pages 72-78.
    10. Bishop, Richard C. & Samples, Karl C., 1980. "Sport and commercial fishing conflicts: A theoretical analysis," Journal of Environmental Economics and Management, Elsevier, vol. 7(3), pages 220-233, September.
    11. Lee G. Anderson, 1983. "The Demand Curve for Recreational Fishing with an Application to Stock Enhancement Activities," Land Economics, University of Wisconsin Press, vol. 59(3), pages 279-286.
    12. J. P. Gould, 1968. "Adjustment Costs in the Theory of Investment of the Firm," Review of Economic Studies, Oxford University Press, vol. 35(1), pages 47-55.
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    Citations

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    Cited by:

    1. John C. Whitehead & Christopher F. Dumas & Craig E. Landry & Jim Herstine, 2013. "A recreation demand model of the North Carolina for-hire fishery: a comparison of primary and secondary purpose anglers," Applied Economics Letters, Taylor & Francis Journals, vol. 20(16), pages 1481-1484, November.
    2. Fenichel, Eli P. & Abbott, Joshua K., 2014. "Heterogeneity and the fragility of the first best: Putting the “micro” in bioeconomic models of recreational resources," Resource and Energy Economics, Elsevier, vol. 36(2), pages 351-369.
    3. Matthew N. Reimer & Joshua K. Abbott & James E. Wilen, 2014. "Unraveling the Multiple Margins of Rent Generation from Individual Transferable Quotas," Land Economics, University of Wisconsin Press, vol. 90(3), pages 538-559.
    4. repec:kap:enreec:v:69:y:2018:i:1:d:10.1007_s10640-016-0066-7 is not listed on IDEAS
    5. John C. Whitehead & Christopher F. Dumas & Craig E. Landry & Jim Herstine, 2011. "Valuing Bag Limits in the North Carolina Charter Boat Fishery with Combined Revealed and Stated Preference Data," Working Papers 11-08, Department of Economics, Appalachian State University.

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