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Economic Efficiency Of Alternative Bycatch-Reduction Policies And Bycatch Reduction Devices

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  • Wui, Yong-Suhk
  • Woodward, Richard T.
  • Griffin, Wade L.

Abstract

This paper examines the ability of two new policies to reduce bycatch of red snapper by the shrimp fishery in the Gulf of Mexico: Fractional License and Fractional Gear Programs, as proposed by Townsend, reduce bycatch by reducing the effort levels of shrimp vessels. The policies are evaluated both theoretically and using a simulation model, and they are compared with the current regulatory policy requiring shrimp vessels to use bycatch reduction devices to rebuild red snapper stocks. We find that either a FL program or a FG program could reduce effort and the related problem of bycatch resulting in improving red snapper stocks, while at the same time increasing economic welfare in the fishery.

Suggested Citation

  • Wui, Yong-Suhk & Woodward, Richard T. & Griffin, Wade L., 2004. "Economic Efficiency Of Alternative Bycatch-Reduction Policies And Bycatch Reduction Devices," 2004 Annual meeting, August 1-4, Denver, CO 20063, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea04:20063
    DOI: 10.22004/ag.econ.20063
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    File URL: https://ageconsearch.umn.edu/record/20063/files/sp04wu04.pdf
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    References listed on IDEAS

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    1. Ralph E. Townsend, 1992. "A Fractional Licensing Program for Fisheries," Land Economics, University of Wisconsin Press, vol. 68(2), pages 185-190.
    2. Blomo, Vito & Stokes, Kenneth W. & Griffin, Wade L. & Grant, William & Nichols, John P., 1978. "Bioeconomic Modeling Of The Gulf Shrimp Fishery: An Application To Galveston Bay And Adjacent Offshore Areas," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(1), pages 1-7, July.
    3. Blomo, Vito & Stokes, Kenneth & Griffin, Wade & Grant, William & Nichols, John, 1978. "Bioeconomic Modeling of the Gulf Shrimp Fishery: An Application to Galveston Bay and Adjacent Offshore Areas," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 10(1), pages 119-125, July.
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    Resource /Energy Economics and Policy;

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