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Economic Benefits of Management Reform in the Gulf of Mexico Grouper Fishery: A Semi-parametric Analysis

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  • Weninger, Quinn

Abstract

This paper uses a semi-parametric empirical model to estimate the economic benefits of adopting a property rights-based management program in the Gulf of Mexico grouper fishery. The analysis predicts that a rights-based fleet will be comprised of fewer, more cost efficient boats than under the current controlled access management program. Results indicate that in the year of our data, 1993, the smaller, more productive fleet could harvest the allowable reef fish catch at a cost saving of $2.92–$7.07 million, 12–30% less than under controlled access management. Recent tightening of controlled access regulations suggest that the benefits from management reform could be even larger in the current day fishery.

Suggested Citation

  • Weninger, Quinn, 2008. "Economic Benefits of Management Reform in the Gulf of Mexico Grouper Fishery: A Semi-parametric Analysis," ISU General Staff Papers 200812010800001172, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:200812010800001172
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    Cited by:

    1. Weninger, Quinn, 2008. "Individual Fishing Quotas in the Eastern Gulf of Mexico Grouper Fishery: Fleet Restructuring, Effort Reduction and Cost Savings," Staff General Research Papers Archive 12890, Iowa State University, Department of Economics.
    2. Sutherland, Sara A. & Edwards, Eric C., 2019. "Community Impacts of Fishery Privatization," CEnREP Working Papers 340061, North Carolina State University, Department of Agricultural and Resource Economics.
    3. Dale Squires & Yongil Jeon & R. Quentin Grafton & James Kirkley, 2010. "Controlling excess capacity in common-pool resource industries: the transition from input to output controls ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 361-377, July.
    4. 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.
    5. Chang, Hung-Hao & Boisvert, Richard N. & Hung, Ling-Yi, 2010. "Land subsidence, production efficiency, and the decision of aquacultural firms in Taiwan to discontinue production," Ecological Economics, Elsevier, vol. 69(12), pages 2448-2456, October.
    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.
    7. María Pérez Urdiales & Alfons Oude Lansink & Alan Wall, 2016. "Eco-efficiency Among Dairy Farmers: The Importance of Socio-economic Characteristics and Farmer Attitudes," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 559-574, August.
    8. 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.

    More about this item

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • D2 - Microeconomics - - Production and Organizations

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