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Public Regulation and the Structure of Production in Multiproduct Industries: An Application to the New England Otter Trawl Industry

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  • Dale Squires

Abstract

This article considers the problem of managing multispecies fishing industries as one of regulating the production of individual multiproduct firms. The multispecies New England otter trawl industry is examined within this framework. Empirical results derived from estimating a multiproduct profit function indicate that management consistent with the structures of multiproduct production and costs would directly regulate inputs. Little support is provided for applying the traditional bioeconomic model to the fishery studied.

Suggested Citation

  • Dale Squires, 1987. "Public Regulation and the Structure of Production in Multiproduct Industries: An Application to the New England Otter Trawl Industry," RAND Journal of Economics, The RAND Corporation, vol. 18(2), pages 232-247, Summer.
  • Handle: RePEc:rje:randje:v:18:y:1987:i:summer:p:232-247
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    Cited by:

    1. Ben White, 2000. "A Review of the Economics of Biological Natural Resources," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(3), pages 419-462.
    2. Ana I. Sinde Cantorna & Isabel Diéguez Castrillón & Ana Gueimonde Canto, 2006. "La difusión de nuevas tecnologías en el sector pesquero español, 1931-1971," Historia Agraria. Revista de Agricultura e Historia Rural, Sociedad Española de Historia Agraria, issue 39, pages 313-342, august.
    3. Joshua K. Abbott & Alan C. Haynie & Matthew N. Reimer, 2015. "Hidden Flexibility: Institutions, Incentives, and the Margins of Selectivity in Fishing," Land Economics, University of Wisconsin Press, vol. 91(1), pages 169-195.
    4. Singh, Rajesh & Weninger, Quinn, 2009. "Bioeconomies of scope and the discard problem in multiple-species fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 58(1), pages 72-92, July.
    5. Squires, Dale, 2016. "Firm behavior under quantity controls: The theory of virtual quantities," Journal of Environmental Economics and Management, Elsevier, vol. 79(C), pages 70-86.
    6. Sean Pascoe & Phoebe Koundouri & Trond Bjørndal, 2007. "Estimating Targeting Ability in Multi-Species Fisheries: A Primal Multi-Output Distance Function Approach," Land Economics, University of Wisconsin Press, vol. 83(3), pages 382-397.
    7. Singh, Rajesh & Weninger, Quinn, 2017. "Spatial and seasonal equilibrium harvesting in quota-managed multispecies fisheries," ISU General Staff Papers 201708300700001033, Iowa State University, Department of Economics.
    8. Da Rocha Alvarez, Jose Maria & Prellezo, Raul & Sempere, Jaume & Taboada-Antelo, Luis, 2016. "Fleet dynamics and overcapitalization under rational expectations," MPRA Paper 79578, University Library of Munich, Germany.
    9. Hutchinson, Sharon D. & Larkin, Sherry L. & Lee, Donna J. & Adams, Charles M. & Milon, J. Walter, 2001. "Policy Implications Of Restricted Access Strategies For Multispecies Fisheries," 2001 Annual meeting, August 5-8, Chicago, IL 20485, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Dario Pinello & Angelos Liontakis & Alexandra Sintori & Irene Tzouramani & Konstantinos Polymeros, 2016. "Assessing the Efficiency of Small-Scale and Bottom Trawler Vessels in Greece," Sustainability, MDPI, Open Access Journal, vol. 8(7), pages 1-11, July.
    11. R. Quentin Grafton & Tom Kompas, 2014. "Three Pillars of Fisheries Policy," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 1(3), pages 609-614, September.
    12. Matthew A. Turner, 1998. "Optimal quota programs," Working Papers mturner-98-01, University of Toronto, Department of Economics.
    13. Itziar Lazkano & Linda Nøstbakken, 2016. "Quota Enforcement and Capital Investment in Natural Resource Industries," Marine Resource Economics, University of Chicago Press, vol. 31(3), pages 339-354.
    14. Jin, Di & Thunberg, Eric & Kite-Powell, Hauke & Blake, Kevin, 2002. "Total Factor Productivity Change in the New England Groundfish Fishery: 1964-1993," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 540-556, November.
    15. Lone Grønbæk, 2000. "Fishery Economics and Game Theory," Working Papers 14/00, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    16. Min-Yang Lee, 2014. "Hedonic Pricing of Atlantic Cod: Effects of Size, Freshness, and Gear," Marine Resource Economics, University of Chicago Press, vol. 29(3), pages 259-277.
    17. Perruso, Larry & Taylor, Timothy G. & Larkin, Sherry L., 2002. "Incorporating Stochastic Harvests Into An Analysis Of Production: The U.S. Atlantic And Gulf Of Mexico Pelagic Longline Fleet," 2002 Annual meeting, July 28-31, Long Beach, CA 19770, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    18. Frank Asche & Trond Bjørndal & Daniel V. Gordon, 2009. "Resource Rent in Individual Quota Fisheries," Land Economics, University of Wisconsin Press, vol. 85(2), pages 279-291.
    19. Lars Gårn Hansen & Carsten Lynge Jensen, 2014. "Jointness through vessel capacity input in a multispecies fishery," Agricultural Economics, International Association of Agricultural Economists, vol. 45(6), pages 745-756, November.
    20. Kasperski, Stephen, 2016. "Optimal multispecies harvesting in the presence of a nuisance species," Marine Policy, Elsevier, vol. 64(C), pages 55-63.

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