Factors explaining voluntary participation in PACE-Vaquita

Vaquita marina, a small species of porpoise endemic to the Northern Gulf of California in Mexico, is the world’s most endangered cetacean species. With the purpose of preserving vaquita, the Mexican government launched PACE-Vaquita in 2008. This voluntary program offers an innovative schedule of compensations: as in a payment for conservation program, PACE-Vaquita compensates for temporary reductions in fishing reductions in fishing effort; as in a program to accelerate technology adoption,PACE-Vaquita compensates for switching to vaquita-safe fishing methods; and as in a buyback program, PACE-Vaquita compensates fishermen for a permanent exit from fisheries. This paper seeks the factors explaining fishermen’s participation in PACE-Vaquita during its first year of operation. Analysis is carried out on a data set collected one week after the enrollment deadline. Discussion of results with public policy implications is provided. The most striking result in this paper is the evidence suggesting PACE-Vaquita retires relatively productive vessels which contrasts to previous findings from studies analyzing conventional buyback programs.