SIZE AND BAG LIMITS IN RECREATIONAL FISHERIES: THEORETICAL AND EMPIRICAL ANALYSIS

Size and bag limits are among the most common forms of regulations for recreational fisheries. In this paper, we theoretically study and compare the short- and long-term impacts of these policies on individual anglers and fish stocks. Particular attention is paid to the issue of release mortality, which can have important consequences for policy effectiveness. Theoretically, we show the conditions under which these policies will be successful in achieving biological objectives. Implications for recreation demand analysis are discussed. We also study these policies using a simulation model of various policy combinations for the Gulf of Mexico red snapper fishery.Resource /Energy Economics and Policy,

THE VALUE OF THE GULF OF MEXICO RECREATIONAL RED SNAPPER FISHERY

This study estimates the value of recreational red snapper fishing in the Gulf of Mexico. Additionally, the study shows how to decompose the estimated red snapper recreation demand function into changes: (i) due to recreationists who were not taking recreational red snapper fishing trips but were induced to take a trip in response to changes in catch rates and (ii) due to recreationists already taking trips and responding to changes in catch rates. The decomposition allows us to also decompose the estimated elasticities and consumer surplus. The results indicate that an improvement in expected fishing quality will increase consumer surplus and that most of the increase is contributed by recreationists who initially do not take recreational red snapper fishing trips, but later take a positive number of trips. This finding has important policy implications for managing the red snapper fishery in the Gulf of Mexico.Resource /Energy Economics and Policy,

Estimation of Standardized Effort in the Heterogeneous Gulf of Mexico Shrimp Fleet

In this paper we estimate nominal and standardized shrimping effort in the Gulf of Mexico for the years 1965 through 1993. We accomplish this by first developing a standardization method (model) and then an expansion method (model). The expansion model estimates nominal days fished for noninterview landings data. The standardization model converts nominal days fished to standard days fished. We then characterize the historical trends of the penaeid shrimp fishery byvessel configuration, relative fishing power, and nominal and standardized effort. Wherever possible, we provide comparison with previous estimates by the National Marine Fisheries Service, NOAA

SHRIMP EX-VESSEL PRICES LANDED FROM THE GULF OF MEXICO

A 3SLS procedure is employed to analyze U.S. Gulf of Mexico shrimp ex-vessel prices by size class and import supplies using monthly time-series data for the period from 1981 to 1995. Results indicate that the U.S. Gulf of Mexico shrimp ex-vessel prices are inflexible. Own-price flexibilities range from –0.0663 to –0.1027. Primary substitutes for U.S. Gulf of Mexico shrimp are cross-size U.S. Gulf of Mexico shrimp and imported supplies from South America. Structural changes and seasonal variations are evident for U.S. Gulf of Mexico shrimp ex-vessel prices as well as import supplies.Resource /Energy Economics and Policy,

ECONOMIC EFFICIENCY OF ALTERNATIVE BYCATCH-REDUCTION POLICIES AND BYCATCH REDUCTION DEVICES

This paper examines the ability of two new policies to reduce bycatch of red snapper by the shrimp fishery in the Gulf of Mexico: Fractional License and Fractional Gear Programs, as proposed by Townsend, reduce bycatch by reducing the effort levels of shrimp vessels. The policies are evaluated both theoretically and using a simulation model, and they are compared with the current regulatory policy requiring shrimp vessels to use bycatch reduction devices to rebuild red snapper stocks. We find that either a FL program or a FG program could reduce effort and the related problem of bycatch resulting in improving red snapper stocks, while at the same time increasing economic welfare in the fishery.Resource /Energy Economics and Policy,

Transferable Rights of Recreational Fishery: An Application to Red Snapper Fishery in the Gulf of Mexico

Transferable rights (TRs) programs are being increasingly considered in fisheries to overcome current overfishing situation. This paper will focus on developing a conceptual foundation, investigating advantages of the TRs program in fishery management, and answering critical issues to implement recreational TRs programs. Implication is to the Gulf of Mexico red snapper fishery.Transferable Rights, Individual Transferable Quota, Recreational Fishery, Resource /Energy Economics and Policy, Q22,

Joint Estimation of Revealed and Stated Preference Data: An Application to Recreational Red Snapper Valuation

This study extends the joint estimation of revealed and stated preference data literature by accounting for truncation in the revealed preference data. The analytical model and estimation procedure are used to estimate the value of recreational red snapper fishing in the Gulf of Mexico. This recreational red snapper valuation is decomposed into its direct and indirect components. As expected, the value of recreational red snapper fishing using the joint revealed-stated preference model proposed in this analysis is bracketed on the upper limit by the value obtained using the contingent valuation method and on the lower limit by the travel cost method. The results also indicate that the joint model improves the precision of estimated recreational red snapper valuation.Resource /Energy Economics and Policy,

APPLICATION OF A BIO-ECONOMIC-ENGINEERING MODEL FOR SHRIMP MARICULTURE SYSTEMS

Resource /Energy Economics and Policy,

BIOECONOMIC MODELING OF THE GULF SHRIMP FISHERY: AN APPLICATION TO GALVESTON BAY AND ADJACENT OFFSHORE AREAS

Resource /Energy Economics and Policy,

ESTIMATED COSTS AND RETURNS FOR CATFISH FARMS WITH RECIRCULATING PONDS ALONG THE UPPER TEXAS COAST

Cost, returns, and economies of scale for small, medium and large catfish farms with recirculating ponds are presented for the upper Texas coast. Internal rates of return are 0.150, 0.183 and 0.219, respectively. Total investment is higher than farms with static ponds but investment per unit production capacity is 7 percent to 16 percent lower. Average total cost per pound is between $0.565 and$0.541, (11 percent –20 percent lower than farms using current technology). These results have implications for regional comparative advantage of catfish production as well as incentive for adoption of new technology in conventional ponds.Aquaculture, Catfish, Economics, Off-flavor, Livestock Production/Industries,