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Dissipation of Resource Rent in the US Gulf of Mexico Shrimp Fishery

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Abstract
  • Resource rents are an important indicator of the economic viability of the living marine resources. Rent dissipation is normally an indicator of a poorly managed, overfished stock of fish. Rent dissipation in the US Gulf of Mexico Shrimp Fishery is more an indicator of the lack of management since recruitment is not affected by past fishing effort levels. Estimates of resource rent are compared with total rent dissipation by the industry to indicate the potential of this fishery if managed for maximum economic efficiency. This is done by comparing the open access to the optimal yield equilibria after accounting for market price variation, fleet dynamics and individual operating costs for a given resource abundance level.
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  • Ward, John. 2006. Dissipation of Resource Rent in the US Gulf of Mexico Shrimp Fishery. In: Proceedings of the Thirteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 11-14, 2006, Portsmouth, UK: Rebuilding Fisheries in an Uncertain Environment. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2006. CD ROM. ISBN 0-9763432-3-1
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  • Portsmouth, UK
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  • The National Oceanic & Atmospheric Administration Marine Fisheries Service, United States Department of Commerce (NOAA Fisheries); United Kingdom Department for Environment, Food and Rural Affairs (DEFRA); The United States Agency for International Development supported Aquaculture Collaborative Research and Support Program (ACRSP).
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