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.
Year of publication: |
2004
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Authors: | Wui, Yong-Suhk ; Woodward, Richard T. ; Griffin, Wade L. |
Institutions: | Agricultural and Applied Economics Association - AAEA |
Subject: | Resource /Energy Economics and Policy |
Saved in:
freely available