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annotated bibliography of fisheries economics literature - Office of ...

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The Fishery Conservation Zone (FCZ) <strong>of</strong>f the coast <strong>of</strong> Texas has been<br />

closed to shrimping since 1981 (mid May to mid July) to coincide with the<br />

closure <strong>of</strong> the Texas territorial sea. These areas were closed to increase the<br />

size <strong>of</strong> commercially harvested brown shrimp. The econometric analysis <strong>of</strong><br />

brown shrimp supply-demand relationships for three shrimp sizes (small: more<br />

than 67 tails per pound; medium: 31-67 tails per pound; and large: less than<br />

31 tails per pound) estimated the changes in ex-vessel prices associated with<br />

simulated changes in landings. The estimate 0.4 million pound increase in<br />

landings due to the FCZ closure resulted in an increase in revenue <strong>of</strong> $6.7<br />

million for May 1983 through April 1984. Preliminary estimates <strong>of</strong> the closure<br />

effect for May-August 1984 show a decrease in landings <strong>of</strong> 0.8 million pounds<br />

with an increase in revenue <strong>of</strong> $5.8 million. Changes in landings and value<br />

are due to the estimated decrease in catch <strong>of</strong> lower valued small shrimp with<br />

an increase in higher valued medium and large shrimp. The combined closure <strong>of</strong><br />

the Texas territorial sea and the Texas FCZ in 1983 was estimated to have<br />

increased brown shrimp landings by 3.5 million pounds, with a resulting<br />

increase in revenue <strong>of</strong> $31.7 million for May 1983 through April 1984.<br />

Considine, T.J., T.D. Mount, and T.J. Tyrrell (1980). "The Application<br />

<strong>of</strong> Linear Logit Models to Input Demand Studies: A More General<br />

Formulation." College <strong>of</strong> Agriculture and Life Sciences at Cornell<br />

and the Agricultural Experiment Station at the University <strong>of</strong> Rhode<br />

Island Contribution #1970.<br />

Linear logit models have been criticized by t.H. Oum (1979) on the<br />

grounds that they imply rigid a priori restrictions <strong>of</strong> the cross-price<br />

elasticities and on the elasticities <strong>of</strong> substitution. The purpose <strong>of</strong> this<br />

paper is to show that Oum's results are attributed solely to the restrictive<br />

model specifications identified by the author and not to the analytical<br />

properties <strong>of</strong> linear logit models. A more general formulation <strong>of</strong> a<br />

multinomial logit model for cost shares is presented, and with this<br />

specification, the price elasticities and elasticities <strong>of</strong> substitution do not<br />

depend on the selection <strong>of</strong> the base mode. Furthermore, predicted expenditures<br />

are always positive. In addition, the adding up properties that are<br />

characteristic <strong>of</strong> a multinomial problem are automatically satisfied. The<br />

model also provides considerable flexibility since the inclusion <strong>of</strong><br />

noneconomic explanatory variables does not affect the economic properties <strong>of</strong><br />

the model.<br />

Coogan, Colleen (1995). Incidental Take Statement. Southeast Regional<br />

<strong>Office</strong>, National Marine Fisheries Service, 9721 Executive Center Drive,<br />

North, St. Petersburg, FL, December, 3 pp.<br />

Incidental take level and terms and conditions necessary to minimize and<br />

monitor takes in the swordfish longline fishery are established.<br />

Coogan, Colleen (1996). Incidental Take Statement. Southeast Regional<br />

<strong>Office</strong>, National Marine Fisheries Service, 9721 Executive Center Drive,<br />

North, St. Petersburg, FL, December, 3 pp.<br />

Incidental take level and terms and conditions necessary to minimize and<br />

monitor takes in the drift gillnet <strong>fisheries</strong> are established.<br />

Cook, B.A. (1988). "Discount Effects and Canada's PACIFIC Halibut<br />

Fishery." Marine Resource Economics, 5(1):71-77.<br />

In a recent edition <strong>of</strong> this journal, we undertook a static bioeconomic<br />

analysis <strong>of</strong> Canada's Pacific halibut fishery, and optimal harvesting levels<br />

were established according to different optimizing criteria, including the<br />

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