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Limited Entry Licensing and Adaptive Management: Insights from Duration Modeling

Creator:

Smith, Martin D.

Abstract:

Although many fisheries around the world have long required explicit licensing for fishery participants, the use of limited entry licensing to control fishing effort has become a common practice in the last two decades. In contrast to Individual Fishing Quotas (IFQs), limited entry is only a step towards rights-based management....

Resource Type:

Research Paper

Full Text:

implement more comprehensive rights-based management. Keywords: limited entry, duration model, adaptive
Participation in Vessel Buyback Programs: An Option Value Model of the Vessel-Scrapping Decision

Creator:

Ching-Ta, Chung, Lee, Yao-Hsien, and Chen, Chin-Chen

Abstract:

This paper develops an option value model to examine vessel owners in deciding to participate or not in the vessel buyback program. The model accounts for the uncertainty generally involved in a decision to retire an aged vessel and the underlying value of waiting for new information about the profitability...

Resource Type:

Research Paper

Full Text:

Based Fisheries Management Participation in Vessel Buyback Programs: An Option Value Model of the