Cap-and-trade bycatch management with costly avoidance and stock uncertainty

Rajesh Singh and Quinn Weninger ()

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Regulations to reduce bycatch of non-marketed marine species often impose gear restrictions, reductions in harvest of the target species, and/or spatial and temporal closures of the fishing ground. These regulations can exact significant social costs in commercial fisheries. We evaluate performance of a cap-and-trade bycatch management policy. Harvest of a target fish species, costly avoidance of the bycatch species, and harvesting efficiency is examined in a stochastic production environment with and without at-sea observability of bycatch, and with and without trade in harvest quotas and bycatch caps. Our results suggest that a precise implementation of a socially optimal management plan is possible only if bycatch is observable and trade in fish quotas and bycatch cap is frictionless. Conditions exist in which quota/permit trading raises bycatch relative to a no trade environment. The results offer useful guidance for designing cap-and-trade bycatch management programs.

Keywords: sea-turtles; by-catch (search for similar items in EconPapers)
JEL-codes: Q2 (search for similar items in EconPapers)
Date: 2012-08-08
New Economics Papers: this item is included in nep-env
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http://www2.econ.iastate.edu/papers/p15320-2012-08-08.pdf (application/pdf)

Related works:
Journal Article: Cap-and-trade Bycatch Management with Costly Avoidance and Stock Uncertainty (2015)
Working Paper: Cap-and-trade Bycatch Management with Costly Avoidance and Stock Uncertainty (2015)
Working Paper: Cap-and-trade bycatch management with costly avoidance and stock uncertainty (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:35320

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