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Cap-and-trade bycatch management with costly avoidance and stock uncertainty

Listed author(s):
  • Singh, Rajesh
  • Weninger, Quinn

Regulations to reduce bycatch of non-marketed marine species often impose gear restrictions, reductions in harvest of the target species, and/or spatial and temporal closures of the fishing ground. These regulations can exact significant social costs in commercial fisheries. We evaluate performance of a cap-and-trade bycatch management policy. Harvest of a target fish species, costly avoidance of the bycatch species, and harvesting efficiency is examined in a stochastic production environment with and without at-sea observability of bycatch, and with and without trade in harvest quotas and bycatch caps. Our results suggest that a precise implementation of a socially optimal management plan is possible only if bycatch is observable and trade in fish quotas and bycatch cap is frictionless. Conditions exist in which quota/permit trading raises bycatch relative to a no trade environment. The results offer useful guidance for designing cap-and-trade bycatch management programs.

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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers Archive with number 35320.

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Date of creation: 08 Aug 2012
Handle: RePEc:isu:genres:35320
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Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070

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  1. Abbott, Joshua K. & Wilen, James E., 2009. "Regulation of fisheries bycatch with common-pool output quotas," Journal of Environmental Economics and Management, Elsevier, vol. 57(2), pages 195-204, March.
  2. Pascoe, Sean & Innes, James & Holland, Dan & Fina, Mark & Thébaud, Olivier & Townsend, Ralph & Sanchirico, James & Arnason, Ragnar & Wilcox, Chris & Hutton, Trevor, 2010. "Use of Incentive-Based Management Systems to Limit Bycatch and Discarding," International Review of Environmental and Resource Economics, now publishers, vol. 4(2), pages 123-161, October.
  3. Boyce, John R., 1996. "An Economic Analysis of the Fisheries Bycatch Problem," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 314-336, November.
  4. Turner, Matthew A., 1997. "Quota-Induced Discarding in Heterogeneous Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 186-195, June.
  5. Holland, D.S., 2010. "Markets, pooling and insurance for managing bycatch in fisheries," Ecological Economics, Elsevier, vol. 70(1), pages 121-133, November.
  6. Singh, Rajesh & Weninger, Quinn, 2009. "Bio-Economies of Scope and the Discard Problem in Mulitple Species Fisheries," Staff General Research Papers Archive 12839, Iowa State University, Department of Economics.
  7. 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.
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