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Fleet Restructuring, Rent Generation and the Design of Individual Transferable Fishing Quota Programs: Empirical Evidence from the Pacific Coast Groundfish Fishery

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  • Lian, Carl

Abstract

This article characterizes anticipated changes in fleet structure, individual vessel harvesting activity, and economic performance in the Pacific Coast groundfish fishery under an individual fishing quota management program. Results suggest that the current fleet of 117 vessels will be reduced by roughly 50% - 66% to 40-60 vessels, resulting in annual cost savings of $18 - $22 million (based on 2004 price and cost estimates). However, cost savings could be significantly less if restrictions on quota trading across vessels are incorporated into the program design. Alternative modes of taxing fishing revenues to fund program administration and their impact on fleet size and total fishery value under quota management are also studied. We conclude that individual fishing quotas, if carefully designed, can be an attractive alternative for management of the Pacific Coast groundfish fishery.

Suggested Citation

  • Lian, Carl, 2010. "Fleet Restructuring, Rent Generation and the Design of Individual Transferable Fishing Quota Programs: Empirical Evidence from the Pacific Coast Groundfish Fishery," Staff General Research Papers Archive 31422, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:31422
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    Citations

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    Cited by:

    1. Robert T. Deacon & Dominic P. Parker & Christopher Costello, 2013. "Reforming Fisheries: Lessons from a Self-Selected Cooperative," Journal of Law and Economics, University of Chicago Press, vol. 56(1), pages 83-125.
    2. Sami Dakhlia & Akbar Marvasti, 2022. "Did tradable quota rights really affect fleet size? The case of the Gulf of Mexico reef‐fish fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 66(3), pages 668-689, July.
    3. Akbar Marvasti & Sami Dakhlia, 2021. "Minimum information management and price‐abundance relationships in a fishery," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 69(4), pages 491-518, December.
    4. Sami Dakhlia & Akbar Marvasti, 2020. "Regulatory Change, Market Structure, and Fatalities: The Case of the Gulf of Mexico Reef Fish Fishery," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 57(1), pages 1-26, August.
    5. 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.
    6. 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.

    More about this item

    Keywords

    Individual fishing quotas; scale and technical efficiency; fleet restructuring;
    All these keywords.

    JEL classification:

    • D - Microeconomics
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

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