In this paper, we estimate a multi-output distance function for two North Sea fleet segments and derive output elasticities of substitution to examine the potential for changing catch composition though targeting fishing activity. We find that this ability differs between fleet segments, and...

In most multi-species fisheries managed through output controls, total allowable catches (TACs) are set primarily on the basis of biological considerations, usually on a species by species basis. An implicit assumption of management is that fishers are able to adjust their product mix in line...