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Estimation of cost functions in a data poor environment: the case of capacity estimation in fisheries

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  • Sean Pascoe

Abstract

Fisheries economic analysis is often handicapped by the lack of adequate data to undertake robust econometric analyses. In this study, a translog cost function was required to estimate the potential direction of adjustment in a UK fleet segment if a new regulatory regime was introduced. However, the available data were not appropriate for such estimation. Data envelopment analysis (DEA) was used to modify the data subsequently used in the estimation of the long-run cost function. The resulting model appears robust and is consistent with economic theory and the supporting evidence produced using DEA.

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  • Sean Pascoe, 2007. "Estimation of cost functions in a data poor environment: the case of capacity estimation in fisheries," Applied Economics, Taylor & Francis Journals, vol. 39(20), pages 2643-2654.
    • Handle: RePEc:taf:applec:v:39:y:2007:i:20:p:2643-2654
    DOI: 10.1080/00036840600722257
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    Cited by:

    1. Catherine J. Morrison Paul & Ronald G. Felthoven & Marcelo de O. Torres, 2010. "Productive performance in fisheries: modeling, measurement, and management," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 343-360, July.
    2. Kurt E. Schnier & Ronald G. Felthoven, 2013. "Production Efficiency and Exit in Rights-Based Fisheries," Land Economics, University of Wisconsin Press, vol. 89(3), pages 538-557.
    3. Gianluigi Coppola & Monica Gambino & Alfonso Pellecchia & Dario Pinello & Evelina Carmen Sabatella, 2015. "Modelling The Technology Of Commercial Fishing Vessel In Italy: A Cost Function Approach," 2015 EAFE (European Association of Fisheries Economists) Conference Papers 017, Nisea.
    4. Sean Pascoe & Simon Vieira & Catherine M. Dichmont & André E. Punt, 2011. "Optimal vessel size and output in the Australian northern prawn fishery: a restricted profit function approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 55(1), pages 107-125, January.
    5. Arcos, Angel & de Toledo, Pablo Alvarez, 2009. "An analysis of the Spanish electrical utility industry: Economies of scale, technological progress and efficiency," Energy Economics, Elsevier, vol. 31(3), pages 473-481, May.

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