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Generating Enhanced Fishery Rents by Internalizing Product Quality Characteristics

Listed author(s):
  • Sherry Larkin


  • Gil Sylvia

This paper demonstrates howadditional rents are generated in a fisherycharacterized by intraseasonal variation infish characteristics, including size,condition, and composition. Based on anexpanded conceptual model of the optimalharvest rule, fish characteristics affect preand post harvest production yields and outputprices. A dynamic empirical model, which uses asystem of quality characteristics and anhedonic equation, illustrates the complexrelationships and management choices associatedwith internalizing seafood qualitycharacteristics in a hake fishery. The modelretains the regulated open access managementsystem, but controls intertemporal andintersectoral quotas, production portfolios,and total allowable catch. Results demonstratethat including revenue-side effects frominternalizing fish quality can generatesignificantly greater rents and reduce therelative benefits of increased productionyields. If excluded, bioeconomic models canunderestimate the level of regulatory rentdissipation and overemphasize managementobjectives such as full utilization, whichcould misdirect processing decisions and resultin a suboptimal resource management plan.Implications for data collection,multidisciplinary analysis, and improvements inmarine resource management are discussed. Copyright Kluwer Academic Publishers 2004

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Article provided by Springer & European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 28 (2004)
Issue (Month): 1 (May)
Pages: 101-122

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Handle: RePEc:kap:enreec:v:28:y:2004:i:1:p:101-122
DOI: 10.1023/B:EARE.0000023822.46497.3c
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References listed on IDEAS
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  1. Kenneth E. McConnell & Ivar E. Strand, 2000. "Hedonic Prices for Fish: Tuna Prices in Hawaii," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(1), pages 133-144.
  2. J. Douglas MacDonald & R. L. Mazany, 1984. "Quality Improvement: Panacea for the Atlantic Fishing Industry?," Canadian Public Policy, University of Toronto Press, vol. 10(3), pages 278-286, September.
  3. Robert L. Kellogg & J. E. Easley & Thomas Johnson, 1988. "Optimal Timing of Harvest for the North Carolina Bay Scallop Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(1), pages 50-62.
  4. Michael T. Carroll & James L. Anderson & Josué Martínez-Garmendia, 2001. "Pricing U.S. North Atlantic bluefin tuna and implications for management," Agribusiness, John Wiley & Sons, Ltd., vol. 17(2), pages 243-254.
  5. Sherry L. Larkin & Gilbert Sylvia, 1999. "Intrinsic Fish Characteristics and Intraseason Production Efficiency: A Management-Level Bioeconomic Analysis of a Commercial Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 29-43.
  6. Ola Flaaten, 1983. "The Optimal Harvesting of a Natural Resource with Seasonal Growth," Canadian Journal of Economics, Canadian Economics Association, vol. 16(3), pages 447-462, August.
  7. 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.
  8. Freese, Stephen & Glock, James & Squires, Dale, 1995. "Direct allocation of resources and cost-benefit analysis in fisheries: an application to pacific whiting," Marine Policy, Elsevier, vol. 19(3), pages 199-211, May.
  9. Larkin, Sherry L. & Sylvia, Gilbert, 1998. "Firm-Level Hedonic Analyses Of U.S. Produced Surimi: Implications For Processors And Resource Managers," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20916, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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