Bait tuna vessels in developing coastal countries often compete with artisanal fishers for small pelagic species such as anchovies. Owing to the capital-intensive nature of tuna fishing, the vessels are characteristically foreign owned; the catches are exported; and they pay access fees to the host country. By contrast, the artisanal canoes are owned by the nationals and the fish landed are consumed locally. In addition, fish aggregating devices (FADs), such as artificial lights used to catch the baitfish, destroy marine ecosystems. In this paper a bioeconomic model for fish resource allocation, which accounts for the ownership of the tuna fishing vessels and environmental opportunity costs owing to destructive fishing practices, has been developed. From the model, I have verified the extent to which suboptimal equilibrium solutions deviate from social optimal outcomes under different scenarios. Moreover, I have derived an expression for optimal (ad valorem) tax enough to maximize rents from the two stocks. The optimum solutions are characterized using data on tuna and anchovy fishing in Ghana.
{"title":"Optimal Allocation of Anchovy Stocks as Baitfish for Tuna and as Food for Local Communities in Developing Coastal Countries","authors":"Wisdom Akpalu","doi":"10.1086/715486","DOIUrl":"https://doi.org/10.1086/715486","url":null,"abstract":"Bait tuna vessels in developing coastal countries often compete with artisanal fishers for small pelagic species such as anchovies. Owing to the capital-intensive nature of tuna fishing, the vessels are characteristically foreign owned; the catches are exported; and they pay access fees to the host country. By contrast, the artisanal canoes are owned by the nationals and the fish landed are consumed locally. In addition, fish aggregating devices (FADs), such as artificial lights used to catch the baitfish, destroy marine ecosystems. In this paper a bioeconomic model for fish resource allocation, which accounts for the ownership of the tuna fishing vessels and environmental opportunity costs owing to destructive fishing practices, has been developed. From the model, I have verified the extent to which suboptimal equilibrium solutions deviate from social optimal outcomes under different scenarios. Moreover, I have derived an expression for optimal (ad valorem) tax enough to maximize rents from the two stocks. The optimum solutions are characterized using data on tuna and anchovy fishing in Ghana.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47432328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
H. Albers, Madison Ashworth, T. Capitán, R. Madrigal-Ballestero, L. Preonas
Using a spatially explicit framework with low/middle-income country coastal characteristics, we explore whether aspatial policies augment the impact of marine protected areas (MPAs) and identify when MPAs create income burdens on communities. When MPAs are small and budget-constrained, they cannot resolve all of the marinescape’s open-access issues, but they can create win-win opportunities for ecological and economic goals at lower levels of enforcement. Aspatial policies—taxes, gear restrictions, license restrictions, and livelihood programs—improve the MPA’s ability to generate ecological gains, and licenses and livelihood policies can mitigate MPA-induced income burdens. Managers can use MPA location and enforcement level, in conjunction with the MPA’s impact on fish dispersal, to induce exit from fishing and to direct the spatial leakage of effort. Our framework provides further insights for conservation-development policy in coastal settings, and we explore stylized examples in Costa Rica and Tanzania.
{"title":"MPAs and Aspatial Policies in Artisanal Fisheries","authors":"H. Albers, Madison Ashworth, T. Capitán, R. Madrigal-Ballestero, L. Preonas","doi":"10.1086/715818","DOIUrl":"https://doi.org/10.1086/715818","url":null,"abstract":"Using a spatially explicit framework with low/middle-income country coastal characteristics, we explore whether aspatial policies augment the impact of marine protected areas (MPAs) and identify when MPAs create income burdens on communities. When MPAs are small and budget-constrained, they cannot resolve all of the marinescape’s open-access issues, but they can create win-win opportunities for ecological and economic goals at lower levels of enforcement. Aspatial policies—taxes, gear restrictions, license restrictions, and livelihood programs—improve the MPA’s ability to generate ecological gains, and licenses and livelihood policies can mitigate MPA-induced income burdens. Managers can use MPA location and enforcement level, in conjunction with the MPA’s impact on fish dispersal, to induce exit from fishing and to direct the spatial leakage of effort. Our framework provides further insights for conservation-development policy in coastal settings, and we explore stylized examples in Costa Rica and Tanzania.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41677072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We used an index approach to calculate demand growth for seafood in 107 countries from 1984 to 2013. We used the results to calculate aggregate demand growth by income level, regionally, and globally. While seafood production has more than doubled since the mid-1980s, we showed that global demand for seafood has been higher than the global seafood supply. Demand growth for seafood varies across time, countries, regions, and income groups. The average annual seafood demand growth across countries varies between −6% and 7.5%. Global demand growth for seafood has steadily declined since the 1980s; a slowdown of demand in Asia is the main cause. South America and Africa had the highest demand growth from 2004 to 2013, while both North America and Oceania had negative demand growth in this period. High-income countries have had consistently low seafood demand growth from 1984 to 2013, while demand growth in all other income levels has been substantially larger.
{"title":"Global Seafood Demand Growth Differences across Regions, Income Levels, and Time","authors":"D. Kidane, E. Brækkan","doi":"10.1086/714122","DOIUrl":"https://doi.org/10.1086/714122","url":null,"abstract":"We used an index approach to calculate demand growth for seafood in 107 countries from 1984 to 2013. We used the results to calculate aggregate demand growth by income level, regionally, and globally. While seafood production has more than doubled since the mid-1980s, we showed that global demand for seafood has been higher than the global seafood supply. Demand growth for seafood varies across time, countries, regions, and income groups. The average annual seafood demand growth across countries varies between −6% and 7.5%. Global demand growth for seafood has steadily declined since the 1980s; a slowdown of demand in Asia is the main cause. South America and Africa had the highest demand growth from 2004 to 2013, while both North America and Oceania had negative demand growth in this period. High-income countries have had consistently low seafood demand growth from 1984 to 2013, while demand growth in all other income levels has been substantially larger.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46662742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We develop a bioeconomic model for the management of the Barents Sea red king crab (RKC) fishery, which is a shared stock between Russia and Norway. The RKC is a well-established invasive species in the southern Barents Sea that has evolved into a very profitable fishery over the past two decades. The trade-off that resource managers face today is complicated by the many persisting ecological, biological, and economic uncertainties. We provide analytical solutions that demonstrate the existing trade-offs as well as a numerical analysis of the crab’s management, illustrating the potential for gain from cooperation associated with the unidirectional dispersal externality running from the Russian to the Norwegian zone. We first formulate the noncooperative solution and find the maximum economic yield (MEY) and maximum sustainable yield (MSY) solutions. We then analyze the cooperative solution and demonstrate numerically the effects of changing prices and dispersal intensity, together with the gains from cooperation.
{"title":"Managing a Natural Asset That Is Both a Value and a Nuisance: Competition versus Cooperation for the Barents Sea Red King Crab","authors":"A. Skonhoft, M. Kourantidou","doi":"10.1086/714416","DOIUrl":"https://doi.org/10.1086/714416","url":null,"abstract":"We develop a bioeconomic model for the management of the Barents Sea red king crab (RKC) fishery, which is a shared stock between Russia and Norway. The RKC is a well-established invasive species in the southern Barents Sea that has evolved into a very profitable fishery over the past two decades. The trade-off that resource managers face today is complicated by the many persisting ecological, biological, and economic uncertainties. We provide analytical solutions that demonstrate the existing trade-offs as well as a numerical analysis of the crab’s management, illustrating the potential for gain from cooperation associated with the unidirectional dispersal externality running from the Russian to the Norwegian zone. We first formulate the noncooperative solution and find the maximum economic yield (MEY) and maximum sustainable yield (MSY) solutions. We then analyze the cooperative solution and demonstrate numerically the effects of changing prices and dispersal intensity, together with the gains from cooperation.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1086/714416","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41952569","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Seaweed harvest has denuded many areas of the sea floor, threatening marine ecosystems and the livelihood of coastal communities. Recently, small operators have begun to cultivate seaweed. This paper studies the role of fishing and agriculture, and their interactions with risk and time preferences, in the uptake of seaweed aquaculture. We use a Heckman selection model to study the decision to participate and expansion of production in seaweed aquaculture in Chile. We find that experience with seaweed farming, ecological benefits, and perception of well-suited areas increase participation in seaweed aquaculture. In addition, more contacts within the industry, a surveillance system against theft, and a shorter authorization period to farm increase seaweed production. Among land farmers, while more risk-tolerant producers participate more in seaweed aquaculture, more patient producers cultivate higher levels. We argue that policy design should consider the particularity of other sectors that are synergetic with aquaculture.
{"title":"Transition Patterns of Fishermen and Land Farmers into Small-Scale Seaweed Aquaculture: The Role of Risk and Time Preferences","authors":"C. Salazar, Marcela Jaime, Miguel Quiroga","doi":"10.1086/714417","DOIUrl":"https://doi.org/10.1086/714417","url":null,"abstract":"Seaweed harvest has denuded many areas of the sea floor, threatening marine ecosystems and the livelihood of coastal communities. Recently, small operators have begun to cultivate seaweed. This paper studies the role of fishing and agriculture, and their interactions with risk and time preferences, in the uptake of seaweed aquaculture. We use a Heckman selection model to study the decision to participate and expansion of production in seaweed aquaculture in Chile. We find that experience with seaweed farming, ecological benefits, and perception of well-suited areas increase participation in seaweed aquaculture. In addition, more contacts within the industry, a surveillance system against theft, and a shorter authorization period to farm increase seaweed production. Among land farmers, while more risk-tolerant producers participate more in seaweed aquaculture, more patient producers cultivate higher levels. We argue that policy design should consider the particularity of other sectors that are synergetic with aquaculture.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49087374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Consumers often resist trying novel foods such as seaweed even though their cultivation can provide substantial benefits to the environment. Therefore, research in consumer acceptance is needed before launching a novel food product in the market. We conduct a framed field experiment with adult consumers to investigate US consumers’ willingness to pay (WTP) for three seaweed products: seaweed salad, kelp noodles, and a seaweed snack. The results suggest that there is a potential market for seaweed food products in the United States, as 35% of participants chose to purchase at least one seaweed product. Demographic variables matter in consumers’ choices. For instance, we find a negative WTP premium for female shoppers and primary household shoppers and a positive WTP premium for individuals who had a higher level of education and who were interested in improving the healthfulness of their diets.
{"title":"Is There a Potential US Market for Seaweed-Based Products? A Framed Field Experiment on Consumer Acceptance","authors":"Tongzhe Li, Ahsanuzzaman, K. Messer","doi":"10.1086/714422","DOIUrl":"https://doi.org/10.1086/714422","url":null,"abstract":"Consumers often resist trying novel foods such as seaweed even though their cultivation can provide substantial benefits to the environment. Therefore, research in consumer acceptance is needed before launching a novel food product in the market. We conduct a framed field experiment with adult consumers to investigate US consumers’ willingness to pay (WTP) for three seaweed products: seaweed salad, kelp noodles, and a seaweed snack. The results suggest that there is a potential market for seaweed food products in the United States, as 35% of participants chose to purchase at least one seaweed product. Demographic variables matter in consumers’ choices. For instance, we find a negative WTP premium for female shoppers and primary household shoppers and a positive WTP premium for individuals who had a higher level of education and who were interested in improving the healthfulness of their diets.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49135892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In a context of a pressing need for more sustainable practices, the fishing industry still has doubts about whether the benefits resulting from adopting them outweigh the associated costs. With the aim of providing insights to answer that question, this study presents an analysis of the “it pays to be green” hypothesis by measuring the stock market reaction to the public announcements of compliance with voluntary environmental standards. To this end, an event study has been carried out to investigate whether the announcement that a seafood company has been certificated by the Marine Stewardship Council Chain of Custody Standard influences its shareholders’ decisions and, therefore, the company’s market value. Results show positive average abnormal returns following that event; these returns are greater in the case of those companies with larger size or lower profitability.
{"title":"How Do Investors Value Firms’ Decisions on Obtaining an Eco-label? Evidence from the Fishing Industry","authors":"M. Luna, M. García‐Olalla, J. L. F. Sánchez","doi":"10.1086/714519","DOIUrl":"https://doi.org/10.1086/714519","url":null,"abstract":"In a context of a pressing need for more sustainable practices, the fishing industry still has doubts about whether the benefits resulting from adopting them outweigh the associated costs. With the aim of providing insights to answer that question, this study presents an analysis of the “it pays to be green” hypothesis by measuring the stock market reaction to the public announcements of compliance with voluntary environmental standards. To this end, an event study has been carried out to investigate whether the announcement that a seafood company has been certificated by the Marine Stewardship Council Chain of Custody Standard influences its shareholders’ decisions and, therefore, the company’s market value. Results show positive average abnormal returns following that event; these returns are greater in the case of those companies with larger size or lower profitability.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49497629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A representative and unbiased fish price index is an important tool to measure price risk, as well as for production and marketing management. This paper investigates the relationship between one of the primary price indices of farmed salmon, the Fish Pool Index, and the stock prices of major publicly traded salmon companies. We document that stock prices reflect salmon price information earlier than the Fish Pool Index. Furthermore, this effect is shown to be greater for larger companies. This identifies a possible source of bias in the salmon futures pricing design that relies on the index, which can negatively affect the perceived unbiasedness of contracting. The results also point to potential company-size effects on salmon pricing.
{"title":"Salmon Stock Market Prices Revealing Salmon Price Information","authors":"R. E. Dahl, Atle Oglend, Muhammad Yahya","doi":"10.1086/713769","DOIUrl":"https://doi.org/10.1086/713769","url":null,"abstract":"A representative and unbiased fish price index is an important tool to measure price risk, as well as for production and marketing management. This paper investigates the relationship between one of the primary price indices of farmed salmon, the Fish Pool Index, and the stock prices of major publicly traded salmon companies. We document that stock prices reflect salmon price information earlier than the Fish Pool Index. Furthermore, this effect is shown to be greater for larger companies. This identifies a possible source of bias in the salmon futures pricing design that relies on the index, which can negatively affect the perceived unbiasedness of contracting. The results also point to potential company-size effects on salmon pricing.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1086/713769","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42945176","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Whereas rights-based catch regulations such as individual transferable quotas (ITQs) are gaining traction as the key management instrument in many fisheries, most fisheries are additionally regulated by gear restrictions, minimum landing sizes, and similar measures that intend to protect young fish from being caught. Here we study the incentives to fish selectively in a second-best setting, where the regulator issues quotas of different types and fishers choose the size of the fish they catch. We find that if quotas are specified in terms of the number of fish, rather than biomass or weight, fishers have substantial incentives to target larger fish. Thus juvenile fish are protected without need for gear restrictions. We develop the economic principles in an analytical model and quantify results for empirical examples. We find that steady-state profits under second-best deregulated number quota management are only 0.1%–2.1% below the first-best optimum.
{"title":"Should Fishing Quotas Be Measured in Terms of Numbers?","authors":"M. T. Stoeven, F. Diekert, M. Quaas","doi":"10.1086/713437","DOIUrl":"https://doi.org/10.1086/713437","url":null,"abstract":"Whereas rights-based catch regulations such as individual transferable quotas (ITQs) are gaining traction as the key management instrument in many fisheries, most fisheries are additionally regulated by gear restrictions, minimum landing sizes, and similar measures that intend to protect young fish from being caught. Here we study the incentives to fish selectively in a second-best setting, where the regulator issues quotas of different types and fishers choose the size of the fish they catch. We find that if quotas are specified in terms of the number of fish, rather than biomass or weight, fishers have substantial incentives to target larger fish. Thus juvenile fish are protected without need for gear restrictions. We develop the economic principles in an analytical model and quantify results for empirical examples. We find that steady-state profits under second-best deregulated number quota management are only 0.1%–2.1% below the first-best optimum.","PeriodicalId":49880,"journal":{"name":"Marine Resource Economics","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1086/713437","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48058463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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