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Market interactions between aquaculture and common-property fisheries: Recent evidence from the Bristol Bay sockeye salmon fishery in Alaska

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  • Valderrama, Diego
  • Anderson, James L.

Abstract

The remarkable growth of the global salmon aquaculture industry has generated important implications for Alaskan salmon fisheries as increased supplies of farmed product have led to declines in prices of both farmed and wild species. In the particular case of Bristol Bay sockeye salmon, falling prices and declining profit margins have led to reduced participation in the limited-entry fishery. This study conducts a formal examination of market interactions between the aquaculture and commercial fishery sectors by adapting the Homans and Wilen (1997) model of regulated open access to the context of restricted access fisheries. The econometric model reveals that limited entry regulations were initially successful in extracting rents from the Bristol Bay fishery; however, these rents were gradually dissipated as a result of overcapacity and the effect of falling ex-vessel prices. The emergence of aquaculture provides a strong rationale in favor of right-based approaches to fisheries management in Alaska.

Suggested Citation

  • Valderrama, Diego & Anderson, James L., 2010. "Market interactions between aquaculture and common-property fisheries: Recent evidence from the Bristol Bay sockeye salmon fishery in Alaska," Journal of Environmental Economics and Management, Elsevier, vol. 59(2), pages 115-128, March.
  • Handle: RePEc:eee:jeeman:v:59:y:2010:i:2:p:115-128
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    References listed on IDEAS

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    1. Mark L. Herrmann & Ron C. Mittelhammer & Biing-Hwan Lin, 1993. "Import Demands for Norwegian Farmed Atlantic Salmon and Wild Pacific Salmon in North America, Japan and the EC," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 41(1), pages 111-125, March.
    2. Frank Asche & Atle G. Guttormsen & Tom Sebulonsen & Elin H. Sissener, 2005. "Competition between farmed and wild salmon: the Japanese salmon market," Agricultural Economics, International Association of Agricultural Economists, vol. 33(3), pages 333-340, November.
    3. Homans, Frances R. & Wilen, James E., 2005. "Markets and rent dissipation in regulated open access fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 381-404, March.
    4. Deacon, Robert T & Parker, Dominic P. & Costello, Christopher J, 2008. "Improving Efficiency by Assigning Harvest Rights to Fishery Cooperatives: Evidence From the Chignik Salmon Co-op," University of California at Santa Barbara, Economics Working Paper Series qt1cv9s0v9, Department of Economics, UC Santa Barbara.
    5. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
    6. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124-124.
    7. Munro, Gordon R. & Scott, Anthony D., 1985. "The economics of fisheries management," Handbook of Natural Resource and Energy Economics,in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 2, chapter 14, pages 623-676 Elsevier.
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    Citations

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    Cited by:

    1. Jinghua Xie & Dengjun Zhang, 2014. "Imperfect Competition and Structural Changes in the US Salmon Import Market," Marine Resource Economics, University of Chicago Press, vol. 29(4), pages 375-389.
    2. Asche, Frank & Bellemare, Marc F. & Roheim, Cathy & Smith, Martin D. & Tveteras, Sigbjørn, 2015. "Fair Enough? Food Security and the International Trade of Seafood," World Development, Elsevier, vol. 67(C), pages 151-160.
    3. Seeger, Riley Martin, 2015. "Determinants of Bristol Bay Sockeye Demand and Ex-Vessel Price Implications Based on Key Market-Clearing Factors," SS-AAEA Journal of Agricultural Economics, Agricultural and Applied Economics Association.
    4. 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.
    5. Cloé Garnache, 2015. "Fish, Farmers, and Floods: Coordinating Institutions to Optimize the Provision of Ecosystem Services," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 2(3), pages 367-399.
    6. Asche, Frank & Zhang, Dengjun, 2013. "Testing Structural Changes in the U.S. Whitefish Import Market: An Inverse Demand System Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(3), December.
    7. Julia Bronnmann & Jens-Peter Loy & Karen J. Schroeder, 2016. "Characteristics of Demand Structure and Preferences for Wild and Farmed Seafood in Germany: An Application of QUAIDS Modeling with Correction for Sample Selection," Marine Resource Economics, University of Chicago Press, vol. 31(3), pages 281-300.
    8. Ahmed S. Khan, 2012. "Understanding Global Supply Chains and Seafood Markets for the Rebuilding Prospects of Northern Gulf Cod Fisheries," Sustainability, MDPI, Open Access Journal, vol. 4(11), pages 1-24, November.
    9. repec:eee:ecolec:v:142:y:2017:i:c:p:113-119 is not listed on IDEAS
    10. repec:wsi:wepxxx:v:03:y:2017:i:02:n:s2382624x16500156 is not listed on IDEAS
    11. Asche, Frank & Smith, Martin D., 2010. "Trade and fisheries: Key issues for the World Trade Organization," WTO Staff Working Papers ERSD-2010-03, World Trade Organization (WTO), Economic Research and Statistics Division.

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