We consider the problem of multi-species fisheries management when targeting individual species is costly and at-sea discards of fish by fishermen are unobserved by the regulator. Stock conditions, ecosystem interaction, technological specification, and relative prices under which at-sea...

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This paper examines search with active learning and correlated information. We first develop a simple model to show how correlation affects the decision to acquire information. A unique data set on fishing site choice by mid-Atlantic clam fishermen is used to test the model predictions. Results...

The evidence for nonnormality of crop yields is reassessed. Three methodological problems are identified in typical yield distribution analyses: (i) misspecification of the nonrandom components of yield distributions, (ii) missreporting of statistical significance, and (iii) use of aggregate...

Delayed fishing fleet restructuring complicates the assessment of efficiency gains from individual transferable quota (ITQ) fisheries management programs. This article presents a methodology to estimate harvest sector efficiency gains in lieu of incomplete fleet restructuring. The methodology is...

This report presents an overview of the methods used to collect field data from commercial halibut fishermen in the Gulf of Alaska during the 2006 and 2007 fishing seasons. The report consists of three parts: Part I presents an overview of project goals, the survey instrument, and procedures...

We study firm dynamics, firm value, equilibrium permit prices and market efficiency in a natural resource industry that is managed with tradable output permits. New firms must purchase capital and output permits before they enter. Active firms must consider the economic cost of capital and the...