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Econometric Estimation of Fishing Production Functions when Stocks is Unknown: A Monte Carlo Analysis

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  • Álvarez, Antonio

Abstract

In fisheries economics it is quite common to include a measure of fish stock as an argument of the production function. Given that this information is not available in many cases, researches use stock proxies. In this paper we show that a common proxy based on average catch of all (or some) boats in a given period is biased. However, a proxy based on seasonal dummy variables works better. An empirical section that uses Monte Carlo illustrates the theoretical results.

Suggested Citation

  • Álvarez, Antonio, 2003. "Econometric Estimation of Fishing Production Functions when Stocks is Unknown: A Monte Carlo Analysis," Efficiency Series Papers 2003/09, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    • Handle: RePEc:oeg:wpaper:2003/09
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    References listed on IDEAS

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    1. Sean Pascoe & Louisa Coglan, 2002. "The Contribution of Unmeasurable Inputs to Fisheries Production: An Analysis of Technical Efficiency of Fishing Vessels in the English Channel," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 585-597.
    2. S Pascoe & JL Andersen & J-W de Wilde, 2001. "The impact of management regulation on the technical efficiency of vessels in the Dutch beam trawl fishery," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 28(2), pages 187-206, June.
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    5. Pascoe, S. & Robinson, C., 1996. "Measuring changes in technical efficiency over time using catch and stock information," Discussion Papers 108., Centre for the Economics and Management of Aquatic Resources.
    6. James Kirkley & Dale Squires & Ivar Strand, 1998. "Characterizing Managerial Skill and Technical Efficiency in a Fishery," Journal of Productivity Analysis, Springer, vol. 9(2), pages 145-160, March.
    7. Campbell, H. F. & Hand, A. J., 1998. "Joint ventures and technology transfer: the Solomon Islands pole-and-line fishery," Journal of Development Economics, Elsevier, vol. 57(2), pages 421-442.
    8. Kjell G. Salvanes & Frode Steen, 1994. "Testing for Relative Performance between Seasons in a Fishery," Land Economics, University of Wisconsin Press, vol. 70(4), pages 431-447.
    9. I Herrero & S Pascoe, 2004. "Analysing the effect of technical change on individual outputs using modified quasi-Malmquist indexes," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(10), pages 1081-1089, October.
    10. James E. Kirkley & Dale Squires & Ivar E. Strand, 1995. "Assessing Technical Efficiency in Commercial Fisheries: The Mid-Atlantic Sea Scallop Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 686-697.
    11. Ines Herrero & Sean Pascoe, 2003. "Value versus Volume in the Catch of the Spanish South‐Atlantic Trawl Fishery," Journal of Agricultural Economics, Wiley Blackwell, vol. 54(2), pages 325-341, July.
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    Cited by:

    1. James Innes & Sean Pascoe, 2008. "Productivity Impacts of Veil Nets on UK Crangon Vessels," Journal of Agricultural Economics, Wiley Blackwell, vol. 59(3), pages 574-588, September.

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