ECONOMIC EFFICIENCY OF ALTERNATIVE BYCATCH-REDUCTION POLICIES AND BYCATCH REDUCTION DEVICES

Yong-Suhk Wui, Richard Woodward and Wade L. Griffin

No 20063, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper examines the ability of two new policies to reduce bycatch of red snapper by the shrimp fishery in the Gulf of Mexico: Fractional License and Fractional Gear Programs, as proposed by Townsend, reduce bycatch by reducing the effort levels of shrimp vessels. The policies are evaluated both theoretically and using a simulation model, and they are compared with the current regulatory policy requiring shrimp vessels to use bycatch reduction devices to rebuild red snapper stocks. We find that either a FL program or a FG program could reduce effort and the related problem of bycatch resulting in improving red snapper stocks, while at the same time increasing economic welfare in the fishery.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 26
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20063

DOI: 10.22004/ag.econ.20063

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