One pressing economic, societal and environmental issue affecting commercial fisheries is the production of undesirable outputs. In fisheries, undesirable outputs often arise because of economic or regulatory discarding of commercial species and/or the incidentally caught or ‘take’ of protected species, such as sea turtles and marine mammals. In fisheries, undesirable...
The introduction of individual fishing quotas (IFQs) in the Gulf of Mexico red snapper fishery significantly impacted the way the commercial fleet operated. As result of the added flexibility afforded by the IFQ program, vessels began taking fewer but longer trips. They also began diversifying the composition of their catch....