Document Type

Working Paper

Publication Date

12-1-2007

Working Paper Number

WP #04002, February 2004 revised December 2007; Old working paper #11178

Abstract

This paper uses a semi-parametric empirical model to estimate the economic benefits of adopting a property rights-based management program in the Gulf of Mexico grouper fishery. The analysis predicts that a rights-based fleet will be comprised of fewer, more cost efficient boats than under the current controlled access management program. Results indicate that in the year of our data, 1993, the smaller, more productive fleet could harvest the allowable reef fish catch at a cost saving of $2.92-$7.07 million, 12-30% less than under controlled access management. Recent tightening of controlled access regulations suggest that the benefits from management reform could be even larger in the current day fishery.

Publication Status

Published in Environmental and Resource Economics, Vol. 41 no. 4 (December 2008): 479-497.

JEL Classification

Q2, D2

File Format

application/pdf

Length

31 pages

Included in

Economics Commons

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