Economic Benefits of Management Reform in the Northern Gulf of Mexico Reef Fish Fishery

Quinn Weninger () and James R. Waters

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

Abstract: Controlled access management in the northern Gulf of Mexico commercial reef fish fishery has not achieved key management objectives. We estimate the economic benefits of replacing controlled access with tradable harvest permits. Results suggest that eliminating market gluts caused by periodic seasonal closures could have raised revenues by $3.206m in 1993, the year of our data. Eliminating per-trip catch limits and seasonal closures could have reduced harvest costs by $8.078m. The total 1993 potential benefits, at $11.284m, suggest property rights-based management is an attractive alternative for the northern Gulf reef fish fishery.

Date: 2003-09-01
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Published in Journal of Environmental Economics and Management, September 2003, vol. 46 no. 2, pp. 207-230

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Journal Article: Economic benefits of management reform in the northern Gulf of Mexico reef fish fishery (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:10828

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