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Economic Benefits of Management Reform in the Gulf of Mexico Grouper Fishery: A Semi-parametric Analysis

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  • Quinn Weninger

    ()

Abstract

This paper uses a semi-parametric empirical model to estimate the economic benefits of adopting a property rights-based management program in the Gulf of Mexico grouper fishery. The analysis predicts that a rights-based fleet will be comprised of fewer, more cost efficient boats than under the current controlled access management program. Results indicate that in the year of our data, 1993, the smaller, more productive fleet could harvest the allowable reef fish catch at a cost saving of $2.92-$7.07 million, 12-30% less than under controlled access management. Recent tightening of controlled access regulations suggest that the benefits from management reform could be even larger in the current day fishery.

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File URL: http://hdl.handle.net/10.1007/s10640-008-9203-2
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Article provided by Springer & European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 41 (2008)
Issue (Month): 4 (December)
Pages: 479-497

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Handle: RePEc:kap:enreec:v:41:y:2008:i:4:p:479-497
DOI: 10.1007/s10640-008-9203-2
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Keywords: Individual fishing quotas; Semi-parametric efficiency analysis; Fleet restructuring; Q2; D2;

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Find related papers by JEL classification:
  • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
  • D2 - Microeconomics - - Production and Organizations

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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  1. Matthew Turner & Quinn Weninger, 2005. "Meetings with Costly Participation: An Empirical Analysis," Review of Economic Studies, Oxford University Press, vol. 72(1), pages 247-268.
  2. Léopold Simar & Paul Wilson, 2000. "Statistical Inference in Nonparametric Frontier Models: The State of the Art," Journal of Productivity Analysis, Springer, vol. 13(1), pages 49-78, January.
  3. Stewart, James & Walshe, Kim, 2008. "Compliance costs and the small fisher: A study of exiters from the New Zealand fishery," Marine Policy, Elsevier, vol. 32(1), pages 120-131, January.
  4. James Kirkley & Catherine Morrison Paul & Dale Squires, 2002. "Capacity and Capacity Utilization in Common-pool Resource Industries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(1), pages 71-97, June.
  5. H. Fried & C. Lovell & S. Schmidt & S. Yaisawarng, 2002. "Accounting for Environmental Effects and Statistical Noise in Data Envelopment Analysis," Journal of Productivity Analysis, Springer, vol. 17(1), pages 157-174, January.
  6. Grafton, R Quentin & Squires, Dale & Fox, Kevin J, 2000. "Private Property and Economic Efficiency: A Study of a Common-Pool Resource," Journal of Law and Economics, University of Chicago Press, vol. 43(2), pages 679-713, October.
  7. Simar, Leopold & Wilson, Paul W., 2007. "Estimation and inference in two-stage, semi-parametric models of production processes," Journal of Econometrics, Elsevier, vol. 136(1), pages 31-64, January.
  8. Q. Weninger & I. E. Strand, 2003. "An empirical analysis of production distortions in the mid-Atlantic surf clam and ocean quahog fishery," Applied Economics, Taylor & Francis Journals, vol. 35(10), pages 1191-1197.
  9. Quinn Weninger, 1998. "Assessing Efficiency Gains from Individual Transferable Quotas: An Application to the Mid-Atlantic Surf Clam and Ocean Quahog Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 750-764.
  10. Squires Dale & Alauddin Mohammad & Kirkley James, 1994. "Individual Transferable Quota Markets and Investment Decisions in the Fixed Gear Sablefish Industry," Journal of Environmental Economics and Management, Elsevier, vol. 27(2), pages 185-204, September.
  11. Niels Vestergaard & Frank Jensen & Henning P. Jørgensen, 2005. "Sunk Cost and Entry-Exit Decisions under Individual Transferable Quotas: Why Industry Restructuring Is Delayed," Land Economics, University of Wisconsin Press, vol. 81(3).
  12. Segerson, Kathleen & Squires, Dale, 1993. "Capacity Utilization under Regulatory Constraints," The Review of Economics and Statistics, MIT Press, vol. 75(1), pages 76-85, February.
  13. Dupont, Diane P. & Grafton, R. Quentin & Kirkley, James & Squires, Dale, 2002. "Capacity utilization measures and excess capacity in multi-product privatized fisheries," Resource and Energy Economics, Elsevier, vol. 24(3), pages 193-210, June.
  14. Martin D. Smith, 2000. "Spatial Search and Fishing Location Choice: Methodological Challenges of Empirical Modeling," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(5), pages 1198-1206.
  15. Chambers, Robert G. & Chung, Yangho & Fare, Rolf, 1996. "Benefit and Distance Functions," Journal of Economic Theory, Elsevier, vol. 70(2), pages 407-419, August.
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Cited by:

  1. Keisaku Higashida & Yasuhiro Takarada, 2011. "On Efficiency of Individual Transferable Quotas (ITQs) through Reduction of Vessels," Discussion Paper Series 68, School of Economics, Kwansei Gakuin University, revised Jan 2011.
  2. María Pérez Urdiales & Alfons Oude Lansink & Alan Wall, 2016. "Eco-efficiency Among Dairy Farmers: The Importance of Socio-economic Characteristics and Farmer Attitudes," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 559-574, August.
  3. Dale Squires & Yongil Jeon & R. Quentin Grafton & James Kirkley, 2010. "Controlling excess capacity in common-pool resource industries: the transition from input to output controls ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 361-377, 07.
  4. 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.
  5. Chang, Hung-Hao & Boisvert, Richard N. & Hung, Ling-Yi, 2010. "Land subsidence, production efficiency, and the decision of aquacultural firms in Taiwan to discontinue production," Ecological Economics, Elsevier, vol. 69(12), pages 2448-2456, October.
  6. Färe, Rolf & Grosskopf, Shawna & Walden, John, 2015. "Productivity change and fleet restructuring after transition to individual transferable quota management," Marine Policy, Elsevier, vol. 62(C), pages 318-325.
  7. Weninger, Quinn, 2008. "Individual Fishing Quotas in the Eastern Gulf of Mexico Grouper Fishery: Fleet Restructuring, Effort Reduction and Cost Savings," Staff General Research Papers Archive 12890, Iowa State University, Department of Economics.

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