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Assessing Efficiency Gains from Individual Transferable Quotas: An Application to the Mid‐Atlantic Surf Clam and Ocean Quahog Fishery
Author(s) -
Weninger Quinn
Publication year - 1998
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1244061
Subject(s) - restructuring , fishery , fishing , fisheries management , environmental science , business , economics , biology , finance
Delayed fishing fleet restructuring complicates the assessment of efficiency gains from individual transferable quota (ITQ) fisheries management programs. This article presents a methodology to estimate harvest sector efficiency gains in lieu of incomplete fleet restructuring. The methodology is applied to assess the efficiency gains in the Mid‐Atlantic surf clam and ocean quahog fishery ITQ program. While roughly 128 vessels harvested clams under the previous management regime, the analysis suggests that 21–25 vessels will remain under lTQs. The efficiency gains are estimated to be between $@@‐@@11.1 million and $@@‐@@12.8 million annually (1990 dollars).