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Fisheries Production: Management Institutions, Spatial Choice, and the Quest for Policy Invariance

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  • Matthew N. Reimer
  • Joshua K. Abbott
  • James E. Wilen

Abstract

The fishery-dependent data used to estimate fishing production technologies are shaped by the incentive structures that influence fishermen's purposeful choices across their multiple margins of production. Using a combination of analytical and simulation methods, we demonstrate how market prices and regulatory institutions influence a dominant short-run margin of production--the deployment of fishing time over space. We show that institutionally driven spatial selection leads to only a partial exploration of the full production set, yielding poorly identified estimates of production possibilities outside of the institutionally dependent status quo. The implication is that many estimated fisheries production functions suffer from a lack of policy invariance and may yield misleading predictions for even the most short-run of policy evaluation tasks. Our findings suggest that accurate assessment of the impacts of a policy intervention requires a description of the fishing production process that is sufficiently structural so as to be invariant to institutional changes.

Suggested Citation

  • Matthew N. Reimer & Joshua K. Abbott & James E. Wilen, 2017. "Fisheries Production: Management Institutions, Spatial Choice, and the Quest for Policy Invariance," Marine Resource Economics, University of Chicago Press, vol. 32(2), pages 143-168.
  • Handle: RePEc:ucp:mresec:doi:10.1086/690678
    DOI: 10.1086/690678
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    Cited by:

    1. Carrella, Ernesto & Saul, Steven & Marshall, Kristin & Burgess, Matthew G. & Cabral, Reniel B. & Bailey, Richard M. & Dorsett, Chris & Drexler, Michael & Madsen, Jens Koed & Merkl, Andreas, 2020. "Simple Adaptive Rules Describe Fishing Behaviour Better than Perfect Rationality in the US West Coast Groundfish Fishery," Ecological Economics, Elsevier, vol. 169(C).
    2. Moberg, Emily A. & Pinsky, Malin L. & Fenichel, Eli P., 2019. "Capital Investment for Optimal Exploitation of Renewable Resource Stocks in the Age of Global Change," Ecological Economics, Elsevier, vol. 165(C), pages 1-1.
    3. Holzer, Jorge & DePiper, Geret, 2019. "Intertemporal quota arbitrage in multispecies fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 93(C), pages 185-207.
    4. Reimer, Matthew N. & Haynie, Alan C., 2018. "Mechanisms matter for evaluating the economic impacts of marine reserves," Journal of Environmental Economics and Management, Elsevier, vol. 88(C), pages 427-446.
    5. Juan Agar & William C. Horrace & Christopher F. Parmeter, 2022. "Overcapacity in Gulf of Mexico reef fish IFQ fisheries: 12 years after the adoption of IFQs," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 82(2), pages 483-506, June.
    6. Kiyama, Shoichi & Yamazaki, Satoshi, 2022. "Product switching and efficiency in a declining small-scale fishery," Ecological Economics, Elsevier, vol. 193(C).
    7. Keita Abe & Christopher M. Anderson & Matthew N. Reimer, 2022. "Catch More to Catch Less: Estimating Timing Choice as Dynamic Bycatch Avoidance Behavior," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 82(4), pages 953-984, August.
    8. Reimer, Matthew N. & Abbott, Joshua K. & Haynie, Alan C., 2022. "Structural behavioral models for rights-based fisheries," Resource and Energy Economics, Elsevier, vol. 68(C).

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