Discretion rather than rules in multiple-species fisheries
Date
2024-2-13
Authors
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
This paper evaluates the bioeconomic performance of individual fishing quota (IFQ)
regulations in multiple-species fisheries. In our model, a manager chooses the aggregate
quotas under uncertainty over the true stock abundances of two jointly-harvested fish
species. Fishers conduct harvest operations under full knowledge of the species-specific
productivities of fishing gear. We derive the profit maximizing fishing mortality and economic rent outcomes implemented by fishers under various regulatory designs. We compare bioeconomic performance of an IFQ regulation with discretion over the mix of harvested species against an IFQ regulation that bans at-sea discarding. Both regulations
eliminate discards. Discretion allows closer alignment between fisher implemented outcomes and those that maximize long term expected fishery value. Incorporating discretion into regulatory designs provides new prospects for improving fisheries management.
Series Number
Journal Issue
Is Version Of
Versions
Series
23009
Academic or Administrative Unit
Type
working paper
Comments
JEL Classification: Q2, L5
Length: 65 pages
Original Release Date: April 8, 2023
Revision: October 15, 2023
Latest Revision: February 13, 2024
Length: 65 pages
Original Release Date: April 8, 2023
Revision: October 15, 2023
Latest Revision: February 13, 2024