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Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery

Author

Listed:
  • Larkin, Sherry L.
  • Keithly, Walter R., Jr.
  • Adams, Charles M.
  • Kazmierczak, Richard F., Jr.

Abstract

Declining fishery stocks, increasing fishing effort and adverse market conditions have produced difficult financial situations for fishermen worldwide. Several high-valued fisheries are considered to be overcapitalized. The purchase and permanent retirement of fishing vessels and/or permits under a buyback program is one approach for reducing fishing capacity. Evidence from previous programs, however, suggests that buybacks are not a panacea for solving overcapacity problems. Whether such programs can help rebuild stocks and improve the financial condition of fleets in any specific fishery depends on a multitude of factors. We consider the potential of a buyback program for the U.S. Atlantic shark fishery.

Suggested Citation

  • Larkin, Sherry L. & Keithly, Walter R., Jr. & Adams, Charles M. & Kazmierczak, Richard F., Jr., 2004. "Buyback Programs for Capacity Reduction in the U.S. Atlantic Shark Fishery," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(2), pages 1-16, August.
    • Handle: RePEc:ags:joaaec:43423
    DOI: 10.22004/ag.econ.43423
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    References listed on IDEAS

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    1. Clark, Colin W. & Munro, Gordon R. & Sumaila, Ussif Rashid, 2005. "Subsidies, buybacks, and sustainable fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 47-58, July.
    2. Brent Hueth, 2000. "The Goals of U.S. Agricultural Policy: A Mechanism Design Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(1), pages 14-24.
    3. John B. Walden & James E. Kirkley & Andrew W. Kitts, 2003. "A Limited Economic Assessment of the Northeast Groundfish Fishery Buyout Program," Land Economics, University of Wisconsin Press, vol. 79(3), pages 426-439.
    4. Sabrina Isé & David L. Sunding, 1998. "Reallocating Water from Agriculture to the Environment under a Voluntary Purchase Program," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 20(1), pages 214-226.
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    1. Author-Name: Luca Di Corato & Cesare Dosi & Michele Moretto, 2014. "Bidding for Conservation Contracts," Working Papers 2014.65, Fondazione Eni Enrico Mattei.
    2. Steven Schilizzi & Uwe Latacz-Lohmann, 2007. "Assessing the Performance of Conservation Auctions: An Experimental Study," Land Economics, University of Wisconsin Press, vol. 83(4), pages 497-515.
    3. Musengezi, Jessica D. & Rossi, Frederick J. & Larkin, Sherry L., 2006. "A Double Hurdle Model of Preferences for a Proposed Capacity Reduction Program in the Atlantic Shark Fishery," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35361, Southern Agricultural Economics Association.

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