This paper considers the dynamic producer and consumer benefits from improving habitat that supports a commercial fishery under two different fishery management institutions. By coupling state equations that represent the effects of estuarine eutrophication on fish populations with a...

United States fisheries are managed by regional councils. Fishermen can participate in fisheries managed by multiple councils, and effort controls in one region could lead to effort leakage into another. Using difference-in-differences, we test for leakage across regional fisheries boundaries...

Valuing ecosystem services with microeconomic underpinnings presents challenges because these services typically constitute nonmarket values and contribute to human welfare indirectly through a series of ecological pathways that are dynamic, nonlinear, and difficult to quantify and link to...

Recent supply shocks in the Gulf of Mexico - including hurricanes, the Deepwater Horizon oil spill, and the seasonal appearance of a large dead zone of low oxygen water (hypoxia) - have raised concerns about the economic viability of the U.S. shrimp fishery. The ability for U.S. shrimpers to...

Economists have long promoted fishery rationalization programs, but ITQs may fail to address the ecological consequences of fishing. Of particular concern is that economic incentives to harvest larger fish (due to size-dependent pricing or quota-induced discarding) can destabilize fish...

Economists have long promoted fishery rationalization programs, but ITQs may fail to address the ecological consequences of fishing. Of particular concern is that economic incentives to harvest larger fish (due to size-dependent pricing or quota-induced discarding) can destabilize fish...

The bioeconomic impacts of spatial fisheries management hinge on how fishing vessels reallocate their effort over space. However, empirical studies face two challenges: heterogeneous behavioral responses and unobservable resource abundance. This paper addresses these two problems simultaneously...

U.S. federal law calls for an end to overfishing, but measuring overfishing requires knowledge of bioeconomic parameters. Using micro-level economic data from the commercial fishery, this paper proposes a two-stage approach to estimate these parameters for a generalized fishery model. In the...

Structural models can assess the effectiveness of fishery management prospectively and retrospectively. However, when only fishery-dependent data are available, structural econometric models are highly nonlinear in the parameters, and maximum likelihood and other extremum-based estimators can...

Economics of the fishery has focused on the wastefulness of common pool resource exploitation. Pure open access fisheries dissipate economic rents and degrade biological stocks. Biologically managed fisheries also dissipate rents but are thought to hold biological stocks at desired levels. We...