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Economic Benefits of Management Reform in the Northern Gulf of Mexico Reef Fish Fishery

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  • Weninger, Quinn
  • Waters, James R.

Abstract

Controlled access management in the northern Gulf of Mexico commercial reef fish fishery has not achieved key management objectives. We estimate the economic benefits of replacing controlled access with tradable harvest permits. Results suggest that eliminating market gluts caused by periodic seasonal closures could have raised revenues by $3.206m in 1993, the year of our data. Eliminating per-trip catch limits and seasonal closures could have reduced harvest costs by $8.078m. The total 1993 potential benefits, at $11.284m, suggest property rights-based management is an attractive alternative for the northern Gulf reef fish fishery.

Suggested Citation

  • Weninger, Quinn & Waters, James R., 2003. "Economic Benefits of Management Reform in the Northern Gulf of Mexico Reef Fish Fishery," Staff General Research Papers Archive 10828, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:10828
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    Cited by:

    1. Weninger, Quinn, 2008. "Individual fishing quotas in the eastern Gulf of Mexico grouper fishery: fleet restructuring, effort reduction and cost savings," ISU General Staff Papers 200805150700001163, Iowa State University, Department of Economics.
    2. Veyssiere, Luc Pierre & Weninger, Quinn, 2009. "Fishing behavior across space and time," ISU General Staff Papers 200908100700001156, Iowa State University, Department of Economics.
    3. Corbett A. Grainger & Christopher Costello, 2016. "Distributional Effects of the Transition to Property Rights for a Common-Pool Resource," Marine Resource Economics, University of Chicago Press, vol. 31(1), pages 1-26.
    4. Sutherland, Sara A. & Edwards, Eric C., 2019. "Community Impacts of Fishery Privatization," CEnREP Working Papers 340061, North Carolina State University, Department of Agricultural and Resource Economics.
    5. Torres, Marcelo de O. & Felthoven, Ronald G., 2014. "Productivity growth and product choice in catch share fisheries: The case of Alaska pollock," Marine Policy, Elsevier, vol. 50(PA), pages 280-289.
    6. Ronald Felthoven & William Horrace & Kurt Schnier, 2009. "Estimating heterogeneous capacity and capacity utilization in a multi-species fishery," Journal of Productivity Analysis, Springer, vol. 32(3), pages 173-189, December.
    7. 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.
    8. Anderson, Lee G. & Parsons, George R., 2004. "Review of Valuation Studies for Coastal and Ocean Resources in Latin America and the Caribbean," IDB Publications (Working Papers) 4486, Inter-American Development Bank.
    9. Eggert, Håkan & Tveterås, Ragnar, 2004. "Potential Rent and Overcapacity in the Swedish Baltic Sea Trawl Fishery," Working Papers in Economics 152, University of Gothenburg, Department of Economics.
    10. Torres, Marcelo de Oliveira & Felthoven, Ronald G., 2012. "Productivity Growth and Product Choice in Fisheries: the Case of the Alaskan Pollock Fishery Revisited," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124851, Agricultural and Applied Economics Association.
    11. 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.
    12. Ronald G. Felthoven & Jean Lee & Kurt E. Schnier, 2014. "Cooperative Formation and Peer Effects in Fisheries," Marine Resource Economics, University of Chicago Press, vol. 29(2), pages 133-156.
    13. Dunja Demirović & Milan Radovanović & Marko D. Petrović & Marija Cimbaljević & Nikola Vuksanović & Darko B. Vuković, 2017. "Environmental and Community Stability of a Mountain Destination: An Analysis of Residents’ Perception," Sustainability, MDPI, vol. 10(1), pages 1-16, December.
    14. Trond Bjørndal & Daniel Gordon & Mintewab Bezabih, 2012. "Measuring potential profits in a bioeconomic model of the mixed demersal fishery in the North Sea," Journal of Bioeconomics, Springer, vol. 14(2), pages 147-166, July.
    15. Andrew J. Ropicki & Sherry L. Larkin, 2014. "Social Network Analysis of Price Dispersion in Fishing Quota Lease Markets," Marine Resource Economics, University of Chicago Press, vol. 29(2), pages 157-176.
    16. 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.
    17. Fukuyama, Hirofumi & Weber, William L., 2009. "A directional slacks-based measure of technical inefficiency," Socio-Economic Planning Sciences, Elsevier, vol. 43(4), pages 274-287, December.
    18. Ropicki, Andrew J., 2013. "Network Analysis of the Gulf of Mexico Commercial Red Snapper Fishery IFQ Program," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143091, Southern Agricultural Economics Association.
    19. Matthew N. Reimer & Joshua K. Abbott & James E. Wilen, 2014. "Unraveling the Multiple Margins of Rent Generation from Individual Transferable Quotas," Land Economics, University of Wisconsin Press, vol. 90(3), pages 538-559.
    20. Diekert , Florian & Lund , Kristen & Schweder, Tore, 2014. "From Open-Access to Individual Quotas: Disentangling the Effects of Policy Reform and Environmental Changes in the Norwegian Coastal Cod Fishery," Memorandum 07/2014, Oslo University, Department of Economics.
    21. Junjie Zhang & Martin Smith, 2011. "Heterogeneous Response to Marine Reserve Formation: A Sorting Model approach," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 49(3), pages 311-325, July.
    22. Subal Kumbhakar & Frank Asche & Ragnar Tveteras, 2013. "Estimation and decomposition of inefficiency when producers maximize return to the outlay: an application to Norwegian fishing trawlers," Journal of Productivity Analysis, Springer, vol. 40(3), pages 307-321, December.
    23. Anna M. Birkenbach & Andreea L. Cojocaru & Frank Asche & Atle G. Guttormsen & Martin D. Smith, 2020. "Seasonal Harvest Patterns in Multispecies Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 75(3), pages 631-655, March.
    24. Asche, Frank & Smith, Martin D., 2010. "Trade and fisheries: Key issues for the World Trade Organization," WTO Staff Working Papers ERSD-2010-03, World Trade Organization (WTO), Economic Research and Statistics Division.
    25. Zhang, Bin & Lu, Danting & He, Yan & Chiu, Yung-ho, 2018. "The efficiencies of resource-saving and environment: A case study based on Chinese cities," Energy, Elsevier, vol. 150(C), pages 493-507.

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