Sablefish (Anoplopoma fimbria) are distributed from Japan to Baja California. Alaska is the world’s principal supplier of sablefish with the majority of commercial landings occurring in the Gulf of Alaska and the Aleutian Islands. This demersal, long-lived fish is in one of Alaska’s highest value commercial fisheries. In terms of...
During the first three years (2007-2009) of the Gulf of Mexico red snapper IFQ program most quota lease trades were local, involving fishers that lived in the same communities. In 2010, the red snapper quota lease market changed as more IFQ participants began trading quota with fishers from different regions...
Recreational fishing for popular species like red snapper and grouper in the Gulf of Mexico has followed a familiar pattern to that observed in many commercial fisheries: fishing under regulated open access has promoted a “race to the fish” with cascades of shorter seasons, shrinking bag limits, and significant fishery...
"Rationalization” or the change to catch share management in fisheries has been shown to lead to the slowing of fishing activity, input and effort consolidation, cost savings, as well as new market and product development. The effects of rationalization on fishermen’s behavior become more complex when one accounts for the...
In 2011 an individual fishing quota (IFQ) system was implemented for the limited entry trawl component of the Pacific groundfish fishery in the US. The IFQ system allocates quota shares (QS) for 29 IFQ stocks and individual bycatch quota (IBQ) shares for Pacific halibut. Each year quota shareholders are issued...
The paper analyzes a situation in which the fishing fleet is subject to restrictive regulation regarding the harvest of its primal target species due to biological overfishing that in turn reveals a high level of overcapacity. The goal is to model fishermen’s expectations and likely responses to the government initiated...
Many of the tangible benefits of catch share programs (e.g., reducing overcapacity) are dependent on the trading of shares. Additional trading-related questions (such as whether landings will change port or be concentrated geographically) are also important to the overall evaluation of a fishery, but are often asked only during post-implementation...
ITQ systems generate ITQ prices. For any given ITQ-managed species there are typically two prices. One is for the annual (or seasonal) quota, the other is for the longer lasting ITQ-share. In well-functioning ITQ markets, these prices reveal important information about the fishery. In the single species framework, prices of...
Some recent studies have shown the outstanding price linkages at the global scale between the cannery-grade
tuna markets over the last decade. When it comes to price transmission along the European value chains, opposite results between the two major species (skipjack and yellowfin) are found: the market for final goods...
Multispecies fisheries pose a considerable management difficulty with respect to quota allocation between species. The applicability is to single vessel and its individual quotas, as well as to the fleet as a whole. Negative externalities may be created if Total Allowable Catches (TACs) are not set in optimal proportions. That...
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k – capital as power of main
engine [kW]
vn,t – stochastic error term
un – time