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

The impacts of TEDs on the highliner is not accounted for using this
assumption. Given the stock effect and the reduced fleet size, the
inframarginal firm could actually generate a positive rent due to the adoption
of TEDs by the marginal firm.
Griffin, W.L. and Chris Oliver (1991). "Evaluation of the Economic
Impacts of Turtle Excluder Devices (TEDs) on the Shrimp Industry
in the Gulf of Mexico." MARFIN Project NO. NA-87-WC-H-06139.
Agricultural Economics Dept., Texas A&M University College
Station, TX 77843-2124.
By accounting for the dynamics of the shrimp population, a more accurate
representation of the gains and losses from the implementation of TED
regulations was provided. Percent loss by region varied with the fishing
pressure of each region; the higher the fishing pressure the less the overall
loss to each region. Across all regions, an estimate by the NMFS of a 10%
loss in shrimp retention due to the use of TEDs translated to an overall 5.3%
loss in landings in the entire Gulf region. In economic terms, this renders a
16.2 million dollar loss of rent to vessels and crew in the shrimp fishing
industry in the Gulf of Mexico. Regional compliance ranged from 61 to 91%
based on Coast Guard estimates, therefore, overall loss in rent was reduced to
12.8 million dollars. However, the loss in rent to vessel owners and crew who
complied with the TED regulation was 15.7 million dollars, while the gain in
rent to non-complying owners and crew was 2.9 million dollars. The overall
loss to the Gulf of Mexico shrimp industry, based on the 1990 individual tow
losses of 0.7%, was a decline in rent of 4.5 million dollars most of which was
due to the purchase of the TEDs. These short run results indicate that
nominal days fished in the long run must decrease for the industry to move to
a new equilibrium. This is true across all vessel classes and regions, since
they all incurred negative rents. Estimating the net present value for this
adjustment process, over time, is reserved for future analysis.
Two problems with the analysis are the short run time scale employed and
the use of a homogeneous fleet assumption. Limiting the analysis to the
impacts next year does not allow the fleet size to adjust to increased costs
and reduced revenues caused by adoption of the TEDs in their harvesting
operations. A stock effect from reduced fleet size should cause the catch per
unit effort to increase and total catch to remain the same. The analysis uses
the assumption of a homogeneous fleet where total revenue equals total cost
even though three separate vessel size classes are employed in the analysis.
The impacts of TEDs on the highliner is not accounted for using this
assumption. Given the stock effect and the reduced fleet size, the
inframarginal firm could actually generate a positive rent due to the adoption
of TEDs by the marginal firm.
Griffin, Wade L. and Arvind K. Shah (1994). "Estimation of Standardized
Effort in the Heterogeneous Gulf of Mexico Shrimp Fleet." MARFIN
Project No. NA37FF0053-01, National Marine Fisheries Service, St.
Petersburg, FL, April, 24 pp.
This project estimates standardized effort in the Gulf of Mexico shrimp
fishery. Specifically, it develops a method to estimate standardized effort
from the vessel operating units files and the interviewed shrimp landings
file, develops a method to expand days fished from the interviewed shrimp
landings files to the total landings files, and characterizes the historical
trends of the shrimp fishery relative to vessel configuration, nominal effort
(nominal days fished) and standardized effort.
Griffin, Wade L. and Arvind K. Shah (1995). "Estimation of Standardized
Effort in the Heterogeneous Gulf of Mexico Shrimp Fleet." MARFIN
2 4 6