We previously developed a spatially explicit, individual-based model (IBM) evaluating the bio-economic efficiency of fishing vessel movements between regions according to the catching and targeting of different species based on the most recent high resolution spatial fishery data. The main purpose was to test the effects of alternative fishing effort...
This paper analyzes the behavior of fishing households under individual transferable quotas (ITQ) system based on Singh, Squire and Strauss household model. ITQ system is sought to be the optimal fishery management regime in terms of economic efficiency. However, preceding theoretical analyses only considered implementing ITQ to a well established...
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....
Ecosystem based fishery management has moved beyond rhetorical statements calling for a more holistic approach to resource management, to implementing decisions on resource use that are compatible with goals of maintaining ecosystem health and resilience. Coupled economic-ecological models are a primary tool for informing these decisions. Recognizing the importance of...
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...