{"title":"The Day-to-Day Supply Responses of a Limited-Entry Mixed Fishery","authors":"Xiaozi Liu, D. Shaw, T. Bjørndal, M. Heino","doi":"10.1086/711384","DOIUrl":null,"url":null,"abstract":"Small-scale fishers’ short-run supply decisions are understudied, often because of data limitations. We utilize a unique dataset of daily catches and prices from a mixed-species trawl fishery in Taiwan, characterized by targeting decisions made before prices are formed. To investigate the effect of expected prices on fishers’ supply decisions, we formulate a vector error correction model in a seemingly unrelated regression system of 11 fish species. We find a price-elastic short-run supply for several species: the maximum daily price elasticity of supply (PES) ranges from 0.4 to 1.1 and is statistically significant for all but one species. The long-run PES (approx. weekly) is >1 for eight species. In contrast, elasticity with respect to wave height is weak (the median short-run elasticity is −0.4). These findings are unexpected for trawl fisheries, which are believed to have low selectivity. Our results highlight the potential that auction markets have to incentivize fishing that emphasizes quality over quantity.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.0000,"publicationDate":"2020-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1086/711384","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Marine Resource Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1086/711384","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 1
Abstract
Small-scale fishers’ short-run supply decisions are understudied, often because of data limitations. We utilize a unique dataset of daily catches and prices from a mixed-species trawl fishery in Taiwan, characterized by targeting decisions made before prices are formed. To investigate the effect of expected prices on fishers’ supply decisions, we formulate a vector error correction model in a seemingly unrelated regression system of 11 fish species. We find a price-elastic short-run supply for several species: the maximum daily price elasticity of supply (PES) ranges from 0.4 to 1.1 and is statistically significant for all but one species. The long-run PES (approx. weekly) is >1 for eight species. In contrast, elasticity with respect to wave height is weak (the median short-run elasticity is −0.4). These findings are unexpected for trawl fisheries, which are believed to have low selectivity. Our results highlight the potential that auction markets have to incentivize fishing that emphasizes quality over quantity.
期刊介绍：
Marine Resource Economics (MRE) publishes creative and scholarly economic analyses of a range of issues related to natural resource use in the global marine environment. The scope of the journal includes conceptual and empirical investigations aimed at addressing real-world oceans and coastal policy problems. Examples include studies of fisheries, aquaculture, seafood marketing and trade, marine biodiversity, marine and coastal recreation, marine pollution, offshore oil and gas, seabed mining, renewable ocean energy sources, marine transportation, coastal land use and climate adaptation, and management of estuaries and watersheds.
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