Fisheries Economics

Is Today's Fisheries Research Driven by the Economic Value of a Species? A Case Study Using an Updated Review of Ladyfish (Elops saurus) Biology

by Juan C. Levesque

Understanding a species life history is fundamental for managing and conserving a population. Despite the importance... more Understanding a species life history is fundamental for managing and conserving a population. Despite the importance of this type of information, research attention is often directed at species with the highest economic value. This funding approach is problematic for preserving diversity and rarely considers ecological systematic functions; it prevents resource agencies from allocating funds for studying lower-valued species. For example, the ladyfish (Elops saurus) is a valuable commercial and recreational species in Florida, but in comparison to tarpon (Megalops atlanticus) and bonefish (Albula vulpes), ladyfish have received less funding and research attention. To date, comparably little biological information and no recent reviews are available for ladyfish; research interest is almost non-existent. First, a new review of ladyfish information is provided, and second, statistical evidence is presented and discussed that suggests that there is more published information for tarpon and bonefish than ladyfish because their socio-ecological values are greater. This study’s findings confirm that there are significantly more published articles on tarpon than ladyfish, and the number of articles on ladyfish has declined with time.
The number of articles on tarpon and bonefish were positively correlated with time, while the number of articles on ladyfish
was negatively correlated with time. Natural resource management is shifting from a sustainable yield to a sustainable ecosystem perspective. Given this shift in management approach, successful ecosystem management requires substantial biological information on a variety of species within a given system, regardless of their socio-economic status. It is important to understand that although some species have been ranked higher than others, in terms of economic importance, ecosystems are functioning systems that do not discriminate or have any jurisdictional boundaries.

Individual Vessel Quotas in Peru: Stopping the Race for Anchovies

by Sigbjorn Tveteras

With Carlos E. Paredes and Julio Peña Torres

In January 2009 a new management regime of individual vessel quotas (IVQs) was put in force in the world´s largest... more In January 2009 a new management regime of individual vessel quotas (IVQs) was put in force in the world´s largest fishery, the Peruvian anchovy fishery. Until 2009, the fishery was managed by a regulated open access system with clear symptoms of the race for fish. We argue that the new regime has stopped the race for fish, reduced the number of vessels participating in the fishery, and prolonged the fishing season. Furthermore, the IVQs appear to have improved profitability in the fishery and increased value-added production in the Peruvian anchovy value chains. This provides support that developing countries with presumed weaker institutions can reap benefits of such management systems. However, there appears to have been setbacks in 2010, as the number of participating vessels has once again increased. This indicates that the institutions that regulate and monitor the fishery must be further strengthened.

Economic Evaluation of Recreational Fishery Policies

by Murray Rudd

Rudd, M. A., H. Folmer, and G. C. van Kooten. 2002. Economic evaluation of recreational fishery policies. Pages 35-52 in T. J. Pitcher, and C. Hollingworth, editors. Evaluating Recreational Fisheries: an Ecological, Economic and Social Balance Sheet. Blackwell Science, Oxford.

Recreational fisheries around the world provide humans with important economic benefits because people derive well... more Recreational fisheries around the world provide humans with important economic benefits because people derive well being from participating in the act of fishing. Many of these benefits are difficult to value, however, because they are nonmarket in nature and depend on ‘free’ ecological services. Other sectors of society may also depend on these public goods. It is difficult to exclude people from using public goods and there is, therefore, a tendency for them to be under-produced by the private sector. Thus, there is often a need for government policy intervention to ensure the adequate production of public ecological services and resolve conflicts over their use. Policies that affect recreational fisheries have costs and benefits, both for anglers and people in other sectors of society, that must be accounted for if social well being is to be maximized. Economics

can be used to quantify the costs and benefits of various policy options available to society, and make recommendations that improve overall economic efficiency. Overall well being (welfare) consists of the sum of ‘surpluses’accruing to producers and consumers. In this chapter, we outline the principles of economic cost-benefit analysis of market and nonmarket values for recreational fisheries using examples from various jurisdictions. We also consider how economic analysis can be used to account for the transaction costs of fisheries management – costs often borne by society as a whole – for different forms of governance.

A bioeconomic analysis of management strategies for rebuilding and maintenance of the NSS rock lobster (Jasus edwardsii) stock in southern New Zealand

by Philippe Lallemand

The relative weight of traditions, economics, and catch plans in New Zealand fleet dynamics

by Philippe Lallemand

Catch-quota balancing in mixed-fisheries: a bio-economic modelling approach applied to the New Zealand hoki (Macruronus novaezelandiae) fishery

by Philippe Lallemand

A comparative review of the fisheries resource management systems in New Zealand and in the European Union

by Philippe Lallemand

This review aims at comparing the fisheries management systems existing in New Zealand and in the
European Union.... more This review aims at comparing the fisheries management systems existing in New Zealand and in the
European Union. The involvement of stakeholders at all stages of the management process is generally more transparent
and better established in New Zealand than in the EU. Both systems aim at achieving an adequate balance between
sustainability and utilisation and consider the precautionary approach as a founding principle. The social objectives are
probably more explicit in the EU management system. In New Zealand, BMSY is a legal management target for all stocks
in the quota management system (QMS), but management strategies were poorly explicit until most recently. In the EU,
there have not been any legal management targets or strategies until 1999. Since 1999, a number of multi-annual recovery
and management plans have been established, including both management targets and strategies. Both management
systems include conservation and access regulation measures. The EU management measures aim at regulating fisheries
outputs and inputs, and discarding is tolerated. New Zealand management is almost exclusively output-based, and
discarding practices are banned. In the EU, while individual quotas (IQs) are implicit in several countries, there is no
consistent pattern across Member States for allocating TACs. In New Zealand, individual transferable quotas (ITQs)
are implemented, and some flexibility in catch-quota balancing is provided by a carry-over allowance and the payment
of a landing tax, the deemed value, for every fish landed above quota. If rights-based management were introduced
in the EU based on, e.g., the New Zealand model, we suggest that concentration rules be set in accordance with the
social objectives of the Common Fisheries Policy, and also that the deemed value should be set based on science and
economics.

Bioeconomic Evaluations of Alternative Management Strategies for the New Zealand Otago and Southland Stock of Red Rock Lobster (Jasus edwardsii).

by Philippe Lallemand

A synthetic approach to forecasting fleet costs and earnings in the northeast regions of the United States

by Philippe Lallemand

Monitoring the Economic Status of a Mixed-Species Trawl Fleet: OTTER Economic Simulator

by Philippe Lallemand

A SYNTHETIC APPROACH TO FORECASTING FLEET COSTS AND EARNINGS

by Philippe Lallemand

The rise and reorganization of the Pompeian salted fish industry

by Steven Ellis

in The Making of Pompeii: Studies in the history and urban development of an ancient town (Edited by Steven J.R. Ellis, JRA suppl. 85, 2011) 59-88.

Economies of Scale and Concentration in the Greek and the Norwegian Aquaculture Industry. An empirical Study.

by Konstantinos Vergos

The purpose of this study is to investigate whether there are economies of scale in the Greek and Norwegian fish farming industry, and to examine the structure of the sector

Keywords: Fisheries, industry structure, regulation, Government Expenditures and Health, Market Structure

To investigate economies of scale, we use the
Cobb-Douglas production function, while we examine the structure of... more To investigate economies of scale, we use the
Cobb-Douglas production function, while we examine the structure of the fish-farming by computing the HHI
indicator over different years. We find that the market concentration level is high in Greece in both relative, to
Norway, and in absolute terms. From the other part, Norway, the leader of the fish farming of Atlantic salmon
and Rainbow trout globally, suffers from economies of scale in the examined period. Given the fact that both
Greek and Norwegian production is targeting large markets in Europe (UK, France, Italy) both the findings in
Greece and Norway may be worrying signals, that large M&A activity may lead to decreasing competition
and increasing returns to scale in the industry, as previously happened in the food retail industry. Given the
important contribution of fish farming to poverty alleviation, food security and social well being, European
regulators should investigate whether it is optimal to exercise policies that enhance technology transfer and
limit further market concentration.