Recent results from a vector error correction (VEC) analysis indicate that El Niño-Southern Oscillation (ENSO) events appear to affect both red snapper landings and effort in the Gulf of Mexico headboat fishery (Carter and Letson 2005). A key finding is that the outcome of policy changes can vary depending on...
When weak and strong fish stocks are caught in the same fishery, managing for the protection of the weak
stock may result in foregone economic benefits from harvest of the strong stock, while managing for the
strong stock may result in overfishing of the weak stock. A particular complication arises...
Recreational fishing is a compound activity that includes the expectancy and catching of fish. The Australian national recreational fishing survey provides catch and economic data for this activity for the 12 months May 2000 to April 2001. In addition to catch behavioral data, the survey provides economic data for that...
Economists and biologists have recognized that spatial and temporal area-closures may provide an effective means of managing the impact that fisheries have on one another and upon threatened species. To date, however, little work has been done to estimate the economic impact of protected areas on commercial fishing. One significant...
Economic performance of different fleet segments varies considerably from year to year, with some segments experiencing increased profitability while others experience decreased profitability. This variation is generally considered to be a consequence of the stochasticity in the industry. However, there is growing evidence that fisheries may not be as stochastic...
U. S. agriculture is at a crossroads. The value of traditional agricultural exports has fallen while imports have increased. Concerns about the environmental impacts of current agricultural practices threaten profitability. As O'Connell (1989) pointed out in Choices , one answer to U. S. farm problems might be found in the...
An important subset of natural resource management addresses preserving and/or harvesting biological resources. Examples are policies that derive from the Endangered Species Act including habitat conservation plans, the U.S. Forest Service’s logging practices, and fishery management councils’ decisions regarding catches. To understand the effectiveness of management policies requires an understanding...
Real options models arguably provide a useful framework for understanding individual fishermen's investment decisions, which play an important role in fisheries management issues ranging from capacity reduction to stock assessment. While these models appear to predict actual behavior reasonably well, one important difficulty in applying them is that the salvage...
Chronic overcapacity has been identified as a major cause of the overfishing of Europe’s fish stocks and
the poor economic performance of the European fishing fleets. Mechanisms are needed to ensure that the
capacity of European fishing fleets remain proportionate to available fish stocks. To that end, the
European Commission...