This empirical study examines welfare gains and losses that would result from alternative fishery management regimes. In an application to the North Sea demersal fisheries, the study shows that these fishery resources can give rise to large economic rent. Under an optimal management regime, the...

The global demand for protein from seafood – whether wild, caught or cultured, whether for direct consumption or as feed for livestock – is high and projected to continue growing. However, the ocean’s ability to meet this demand is uncertain due to either mismanagement or, in some cases,...

This paper develops a bioeconomic model that captures the underlying incentives driving the serial depletion of pristine seamounts. The determinants under New Zealand's Quota Management System relate to unit cost savings from bottom trawling for orange roughy on seamounts, where catch rates are...