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Individual fishing quotas in the eastern Gulf of Mexico grouper fishery: Fleet restructuring, effort reduction and cost savings

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  • Weninger, Quinn

Abstract

This paper estimates a structural model of multiple-species harvesting costs in the eastern Gulf of Mexico reef fish fishery. The model is used predict fleet size, vessel level harvesting activity and fleet-wide revenues and costs that are expected under a proposed individual fishing quota (IFQ) management program for grouper species. Results suggest significant fleet downsizing, scale economies and pure efficiency gains will arise under IFQs. Overall IFQs appear to be an attractive alternative to the current controlled access management program in the fishery.

Suggested Citation

  • Weninger, Quinn, 2008. "Individual fishing quotas in the eastern Gulf of Mexico grouper fishery: Fleet restructuring, effort reduction and cost savings," Working Papers 6184, Iowa State University, Department of Economics.
    • Handle: RePEc:ags:genres:6184
    DOI: 10.22004/ag.econ.6184
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    File URL: https://ageconsearch.umn.edu/record/6184/files/wp080007.pdf
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    References listed on IDEAS

    as
    1. Weninger, Quinn & Just, Richard E., 1997. "An Analysis of Transition From Limited Entry to Transferable Quota: Non-Marshallian Principles for Fisheries Management," Staff General Research Papers Archive 5225, Iowa State University, Department of Economics.
    2. Newell, Richard G. & Sanchirico, James N. & Kerr, Suzi, 2005. "Fishing quota markets," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 437-462, May.
    3. Smith, Martin D. & Zhang, Junjie & Coleman, Felicia C., 2008. "Econometric modeling of fisheries with complex life histories: Avoiding biological management failures," Journal of Environmental Economics and Management, Elsevier, vol. 55(3), pages 265-280, May.
    4. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
    5. McConnell, Kenneth E. & Price, Michael, 2006. "The lay system in commercial fisheries: Origin and implications," Journal of Environmental Economics and Management, Elsevier, vol. 51(3), pages 295-307, May.
    6. Singh, Rajesh & Weninger, Quinn, 2007. "Economies of Scope in the Management of Mulitple Species Fisheries," Working Papers 7348, Iowa State University, Department of Economics.
    7. Quinn Weninger, 2008. "Economic Benefits of Management Reform in the Gulf of Mexico Grouper Fishery: A Semi-parametric Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 41(4), pages 479-497, December.
    8. Weninger, Quinn & Waters, James R., 2003. "Economic benefits of management reform in the northern Gulf of Mexico reef fish fishery," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 207-230, September.
    9. Squires, Dale & Campbell, Harry & Cunningham, Stephen & Dewees, Christopher & Grafton, R Quentin & Herrick, Samuel F & Kirkley, James & Pascoe, Sean & Salvanes, Kjell & Shallard, Bruce & Turris, Bruce, 1998. "Individual transferable quotas in multispecies fisheries," Marine Policy, Elsevier, vol. 22(2), pages 135-159, March.
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    Cited by:

    1. Christopher Hansman & Jonas Hjort & Gianmarco León, 2015. "Firms' Response and Unintended Health Consequences of Industrial Regulations," Working Papers 809, Barcelona School of Economics.

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    Keywords

    Resource /Energy Economics and Policy;

    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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