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Economies of scale, excess capacity and potential rent in UK demersal whitefish trawl fisheries

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  • In the UK, individual quotas are imposed on the demersal whitefish trawl fleet. Many of the key whitefish stocks are at historically low levels, and there is pressure on the industry to adjust to remove the current excess capacity. Adjustment in the fishery is likely to favour vessels that are operating closer to the 'optimal' scale, and the fleet structure is likely to move in this direction. In this paper, a translog cost function is used to estimate the returns to scale and 'optimal' scale for the UK demersal whitefish trawlers operating in 2001. Data Envelopment Analysis (DEA) is also used to provide estimates of technical efficiency and capacity utilisation that are used in the development of the long run cost function. The results of both analyses suggest that there is substantial overcapacity in the fishery. The results suggest that adjusting for capacity utilisation and inefficiency results in more robust estimates of optimal scale.
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  • Pascoe, Sean. 2004. Economies of scale, excess capacity and potential rent in UK demersal whitefish trawl fisheries. In: Proceedings of the Twelfth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 20-30, 2004, Tokyo, Japan: What are Responsible Fisheries? Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2004. CD ROM. ISBN 0-9763432-0-7
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