El Archipielago de Colon, more commonly known as the Galapagos Islands, is a province of Ecuador located about 600 miles off the coast of South America. It consists of approximately 45 volcanic islands (15 major and 30 minor) plus scores of smaller islets and rocks. The total land area is...
While most bioeconomic models assume that vessel operators use profit maximizing behavior, it is sometimes argued that participants use other operational goals. The purpose of this paper is to compare how vessel behavior, the bioeconomic equilibrium and the path to achieve it are changed if participants use profit goal behavior....
Weitzman (2002) has shown that with a stochastic growth function and uncertainty in estimating stock size, landing fees will be superior to quotas as a means of controlling fish harvest. Hannesson and Kennedy (2003) expand the analysis by considering variable availability of fish, random fish prices, and non-constant returns to...
The current Senate Bill to reauthorize the Magnuson/Stevens Act, the key US fishery management law,
will allow some significant changes in the way that Individual Transferable Quota programs can be
developed. First, the bill will expand the range of individuals who will be permitted to obtain harvesting
privileges. In addition...
Under the reauthorized Magnuson-Stevens Act (MSRA), US fisheries management councils must specify an annual catch limit (ACL) for each managed species and institute accountability measures (AMs) to ensure that actual harvest will not cause the stock to be overfished. While the details of implementation are still being developed, a set...
The presents a theoretical analysis of the operation of a commercial fishery in the presence of marine reserves. The sustainable yield and revenue curves for reserves are derived and compared to the analogous curves with no reserves. It is shown that reserves will always reduce the sustainable harvest for any...