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Equilibrium Prices in a Vertically Coordinated Fishery

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  • Weninger, Quinn

Abstract

Competition among processing firms is analyzed in a fishery that is managed under a total allowable catch constraint. Firms compete first in the ex-vessel market for round fish and then in the downstream consumer market. Nash equilibrium prices are characterized at each stage of the vertical market. When the number of processors is sufficiently large, equilibrium prices are approximately Walrasian. The ex-vessel price is close to the processor marginal valuation of the round fish and the consumer price clears the total quantity of processed fish. Implications for market structure, conduct and performance, and fisheries management policy are drawn.

Suggested Citation

  • Weninger, Quinn, 1999. "Equilibrium Prices in a Vertically Coordinated Fishery," Staff General Research Papers Archive 5175, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:5175
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    Cited by:

    1. Homans, Frances R. & Wilen, James E., 2000. "Market Rent Dissipation In Regulated Open Access Fisheries," 2000 Annual meeting, July 30-August 2, Tampa, FL 21878, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Homans, Frances R. & Wilen, James E., 2005. "Markets and rent dissipation in regulated open access fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 49(2), pages 381-404, March.
    3. Beard, Rodney, 2008. "A dynamic model of renewable resource harvesting with Bertrand competition," MPRA Paper 8916, University Library of Munich, Germany.
    4. Knútsson, Ögmundur & Kristófersson, Daði Már & Gestsson, Helgi, 2016. "The effects of fisheries management on the Icelandic demersal fish value chain," Marine Policy, Elsevier, vol. 63(C), pages 172-179.
    5. Trond Bjørndal & Daniel Gordon & Mintewab Bezabih, 2012. "Measuring potential profits in a bioeconomic model of the mixed demersal fishery in the North Sea," Journal of Bioeconomics, Springer, vol. 14(2), pages 147-166, July.
    6. Ramòn Jiménez-Toribio & Patrice Guillotreau & Rémi Mongruel, 2009. "Global integration of European tuna markets," Working Papers hal-00430014, HAL.

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