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Quota flexibility in multi-species fisheries

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  • Singh, Rajesh
  • Weninger, Quinn

Abstract

We evaluate management implications of cross-species flexibility in a multiple-species individual fishing quota regulation. We derive fishermen’s privately optimal harvesting and discarding choices under a joint-in-inputs, costly-targeting technology and the complex mapping between quotas set by the regulator and harvest and discard outcomes. Flexibility can reduce fishery rent due to reduced control of harvest outcomes. Empirical evidence from the Gulf of Mexico commercial reef fish fishery is presented to test model predictions. We find no evidence that flexibility reduced discards caused by random quota overages. Discarding in the data is attributed to a particularly small quota and a much larger quota set for jointly harvested species.

Suggested Citation

  • Singh, Rajesh & Weninger, Quinn, 2017. "Quota flexibility in multi-species fisheries," ISU General Staff Papers 201707260700001026, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:201707260700001026
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    References listed on IDEAS

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    1. Jerome Adda & Russell W. Cooper, 2003. "Dynamic Economics: Quantitative Methods and Applications," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012014, April.
    2. Turner, Matthew A., 1997. "Quota-Induced Discarding in Heterogeneous Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 186-195, June.
    3. Singh, Rajesh & Weninger, Quinn, 2009. "Bioeconomies of scope and the discard problem in multiple-species fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 58(1), pages 72-92, July.
    4. Sanchirico, James N. & Holland, Daniel & Quigley, Kathryn & Fina, Mark, 2006. "Catch-quota balancing in multispecies individual fishing quotas," Marine Policy, Elsevier, vol. 30(6), pages 767-785, November.
    5. Innes, Robert, 2003. "Stochastic pollution, costly sanctions, and optimality of emission permit banking," Journal of Environmental Economics and Management, Elsevier, vol. 45(3), pages 546-568, May.
    6. Benjamin Leard, 2013. "The Welfare Effects of Allowance Banking in Emissions Trading Programs," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 55(2), pages 175-197, June.
    7. Singh, Rajesh & Weninger, Quinn, 2015. "Harvest efficiency and fishery discards under harvest uncertainty and trading restrictions," Journal of Environmental Economics and Management, Elsevier, vol. 70(C), pages 72-91.
    8. Matthew A. Turner, 1995. "Economics without Free-disposal: Quota-induced Discarding in Heterogenous Fisheries," Working Papers mturner-95-02, University of Toronto, Department of Economics.
    9. Parzival Copes, 1986. "A Critical Review of the Individual Quota as a Device in Fisheries Management," Land Economics, University of Wisconsin Press, vol. 62(3), pages 278-291.
    10. Woods, Pamela J. & Bouchard, Caroline & Holland, Daniel S. & Punt, André E. & Marteinsdóttir, Guðrun, 2015. "Catch-quota balancing mechanisms in the Icelandic multi-species demersal fishery: Are all species equal?," Marine Policy, Elsevier, vol. 55(C), pages 1-10.
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    Cited by:

    1. Singh, Rajesh & Weninger, Quinn, 2017. "Spatial and seasonal equilibrium harvesting in quota-managed multispecies fisheries," ISU General Staff Papers 201708300700001033, Iowa State University, Department of Economics.

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