This paper examines the generation of resource rent during the transition from an over-exploited to an efficiently managed fishery. A simple theoretical model is used to demonstrate that current industry returns may below or even negative during this adjustment phase. A case in point is the New...

Many fisheries are characterized by a brief and concentrated harvest period followed by a longer marketing period during which the stored product is sold out of inventories. This paper develops an economic model ofoptimal inventory dissipation for a semi-perishable product which assumesthat...

This paper examines the economics of catch discarding in fisheries. To study this issue a simple dynamic fisheries model is constructed. On the basis of this model it is demonstrated that in a differentiated fishery discarding of catch may be socially optimal. The paper goes on to show that...

Recent changes in the U.S. liability regime for oil pollution damage are precipitating a potential insurance crisis for oil carriers operating in U.S. waters. While liability rules can be useful in causing the oil transport industry to internalize the costs of oil pollution, unlimited liability...

The potential for economic policy modelling approaches under alternative theories of fisheries management are reviewed. Conceptual dynamic models are developed to illustrate the discussion. Results suggest that the class of multiobjective models known as multiattribute utility theory are...

A consumer survey of the northeastern United States was conducted to gather market information regarding the decision to purchase fresh hybrid striped bass, trout and salmon. Logit techniques were used to model the experience, perceptions, preferences, and choices of consumers for seafood...

Toxic algae blooms are a worldwide phenomena, which appear to be increasing in frequency and severity. These natural events cause product contaminations that often have significant economic consequences, includingsupply interruptions due to closed fishing grounds, losses from human illness, and...

The adoption of aquacultural products has created an imbalance of market power between catfish producers and a processing sector that exerts a monopsonistic power in certain regions of the U.S. such as west Alabama.However, because of the recent changes caused by vertical integration of...

An approach that combines seasonality removal with a multivariate, state-space, time series forecasting model is developed to provide shortrun forecasts for the US salmon market. Time series included in the model are: US fresh Atlantic salmon wholesale price index; fresh salmon (Atlantic, coho...

A multiobjective bioeconomic policy model was developed for the United States Pacific whiting fishery. Pareto-optimal solutions for three policy objectives—rents, production, and female spawning biomass—were developed and analyzed using "hybrid" generating technique. Three policy instruments...