MARINE RESERVES WITH ENDOGENOUS PORTS: EMPIRICAL BIOECONOMICS OF THE CALIFORNIA SEA URCHIN FISHERY

Martin D. Smith and James E. Wilen

Marine Resource Economics, 2004, vol. 19, issue 1

Abstract: Marine reserves are gaining substantial public support as tools for commercial fisheries management Harvest sector responses will influence policy performance, yet biological studies often depict harvester behavior as spread uniformly over fishing grounds and unresponsive to economic opportunities. Previous bioeconomic analyses show that these behavioral assumptions are inconsistent with empirical data and, more importantly, lead to overly optimistic predictions about harvest gains from reserves. This paper adds another layer of behavioral realism to the bioeconomics of marine reserves by endogenizing fisher home port choices with a partial adjustment share model. Estimated with Seemingly Unrelated Regression over monthly data, this approach allows simulation of both short- and long-run behavioral response to changes induced by marine reserve formation. The findings cast further doubt on the notion that marine reserves generate long-run harvest benefits.

Keywords: Resource /Energy Economics and Policy (search for similar items in EconPapers)
Date: 2004
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