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Quota prices, discarding and rents in a multispecies fishery Public Deposited

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  • Based on a simple model of firm profit maximisation in a multispecies ITQ fishery, market clearing quota lease prices are modelled as a system of linear equations with dimensions dependent upon the number of quota species in the fishery and the number of different harvesting technologies. Finding a set of linear, uniform, quota prices that maximises resource rent during a fishing season reveals an interesting relationship between choke species, quota-induced discarding and the emergence of inframarginal rents. As equilibrium quota prices are jointly determined, discarding of choke species results in lower quota prices for species with quota still available and increased profits for firms with lower marginal harvesting costs for these species. The results are illustrated with a number of numerical simulations.
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  • Seattle, Washington, USA
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