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Productivity Measurement in Common Property Resource Industries: An Application to the Pacific Coast Trawl Fishery

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  • Dale Squires

Abstract

This article measures total factor productivity in industries that exploit resources held in common. Particular attention is paid to the valuation and specification of in situ common-property resources in a neoclassical production technology, catchability of the resource, and variations in economic capacity utilization. An empirical analysis of the open-access Pacific coast trawl fishing industry demonstrates that disentangling the productivity residual from changes in resource abundance, its catchability, and variations in capacity utilization hones the productivity residual to finer precision, lowering mean productivity growth by about half. Removing biological noise from highly variable resources is also important. The results are related to a program limiting the number of vessels and can contribute to sustainable resource management whenever resources are held in common.

Suggested Citation

  • Dale Squires, 1992. "Productivity Measurement in Common Property Resource Industries: An Application to the Pacific Coast Trawl Fishery," RAND Journal of Economics, The RAND Corporation, vol. 23(2), pages 221-236, Summer.
  • Handle: RePEc:rje:randje:v:23:y:1992:i:summer:p:221-236
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    1. Gabriel Natividad, 2016. "Quotas, Productivity, and Prices: The Case of Anchovy Fishing," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 25(1), pages 220-257, March.
    2. Håkan Eggert & Ragnar Tveterås, 2013. "Productivity development in Icelandic, Norwegian and Swedish fisheries," Applied Economics, Taylor & Francis Journals, vol. 45(6), pages 709-720, February.
    3. Michael Basch & Julio Peña-Torres & Sebastian Vergara, "undated". "Catch Efficiency in the Chilean Pelagic Fishery: Does size matter ?," ILADES-Georgetown University Working Papers inv140, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines.
    4. Álvarez, Antonio & Pérez, Levi & Schmidt, Peter, 2003. "The Relative Importance of Luck and Technical Efficiency in a Fishery," Efficiency Series Papers 2003/03, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    5. Torres, Marcelo de O. & Felthoven, Ronald G., 2014. "Productivity growth and product choice in catch share fisheries: The case of Alaska pollock," Marine Policy, Elsevier, vol. 50(PA), pages 280-289.
    6. Byerlee, Derek R. & Murgai, Rinku, 2001. "Sense and sustainability revisited: the limits of total factor productivity measures of sustainable agricultural systems," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 26(3), December.
    7. Fissel, Benjamin E & Glibert, Ben, 2010. "Exogenous Productivity Shocks and Capital Investment in Common-pool Resources," University of California at San Diego, Economics Working Paper Series qt1qp1g9ts, Department of Economics, UC San Diego.
    8. Ehui, Simeon K. & Jabbar, Mohammad A., 2002. "Measuring productivity in African agriculture: a survey of applications," Research Reports 182883, International Livestock Research Institute.
    9. Mamula, Aaron & Collier, Trevor, 2015. "Multifactor productivity, environmental change, and regulatory impacts in the U.S. West Coast groundfish trawl fishery, 1994–2013," Marine Policy, Elsevier, vol. 62(C), pages 326-336.
    10. Thunberg, Eric & Walden, John & Agar, Juan & Felthoven, Ron & Harley, Abigail & Kasperski, Stephen & Lee, Jean & Lee, Todd & Mamula, Aaron & Stephen, Jessica & Strelcheck, Andy, 2015. "Measuring changes in multi-factor productivity in U.S. catch share fisheries," Marine Policy, Elsevier, vol. 62(C), pages 294-301.
    11. Solís, Daniel & Agar, Juan J. & del Corral, Julio, 2015. "IFQs and total factor productivity changes: The case of the Gulf of Mexico red snapper fishery," Marine Policy, Elsevier, vol. 62(C), pages 347-357.
    12. 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.
    13. Catherine J. Morrison Paul & Ronald G. Felthoven & Marcelo de O. Torres, 2010. "Productive performance in fisheries: modeling, measurement, and management," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 343-360, July.
    14. 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.
    15. Walden, John B. & Kitts, Nolan, 2014. "Measuring fishery profitability: An index number approach," Marine Policy, Elsevier, vol. 43(C), pages 321-326.
    16. Kvamsdal, Sturla F., 2012. "Technological Change in Renewable Resource Industries: An Alternative Estimation Approach," Discussion Papers 2012/14, Norwegian School of Economics, Department of Business and Management Science.
    17. Fissel, Benjamin E. & Felthoven, Ronald G. & Kasperski, Stephen & O’Donnell, Christopher, 2015. "Decomposing productivity and efficiency changes in the Alaska head and gut factory trawl fleet," Marine Policy, Elsevier, vol. 62(C), pages 337-346.
    18. Walden, John & Fissel, Ben & Squires, Dale & Vestergaard, Niels, 2015. "Productivity change in commercial fisheries: An introduction to the special issue," Marine Policy, Elsevier, vol. 62(C), pages 289-293.
    19. Clay, Patricia M. & Kitts, Andrew & Pinto da Silva, Patricia, 2014. "Measuring the social and economic performance of catch share programs: Definition of metrics and application to the U.S. Northeast Region groundfish fishery," Marine Policy, Elsevier, vol. 44(C), pages 27-36.
    20. Fissel, Benjamin E. & Gilbert, Ben & LaRiviere, Jacob, 2013. "Technology adoption and diffusion with uncertainty in a commons," Economics Letters, Elsevier, vol. 120(2), pages 297-301.
    21. Squires, Dale & Vestergaard, Niels, 2015. "Productivity growth, catchability, stock assessments, and optimum renewable resource use," Marine Policy, Elsevier, vol. 62(C), pages 309-317.
    22. 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.
    23. Pan, Minling & Walden, John, 2015. "Measuring Productivity in a Shared Stock Fishery: A Case Study of the Hawaii Longline Fishery," Marine Policy, Elsevier, vol. 62(C), pages 302-308.
    24. Byerlee, Derek & Murgai, Rinku, 2001. "Sense and sustainability revisited: the limits of total factor productivity measures of sustainable agricultural systems," Agricultural Economics, Blackwell, vol. 26(3), pages 227-236, December.

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