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Generating Value in Habitat-Dependent Fisheries: The Importance of Fishery Management Institutions

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  • Martin D. Smith
Abstract
This paper models dynamic producer and consumer benefits from improving habitat that supports the North Carolina blue crab fishery. It embeds two fishery management institutions—open access and partial rationalization—in a multispecies, two-patch spatial bioeconomic model with endogenous output price and estuarine eutrophication. Producer benefits from improved environmental quality are higher for the rationalized fishery than for open access. Consumer benefits are larger than producer benefits and are comparable across institutions. However, the total benefits from improving environmental quality are small relative to the benefits from rationalizing the fishery and leaving environmental quality the same.

Suggested Citation

  • Martin D. Smith, 2007. "Generating Value in Habitat-Dependent Fisheries: The Importance of Fishery Management Institutions," Land Economics, University of Wisconsin Press, vol. 83(1), pages 59-73.
    • Handle: RePEc:uwp:landec:v:83:y:2007:i:1:p:59-73
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    Cited by:

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    2. Mathieu Cuilleret & Luc Doyen & Hélène Gomes & Fabian Blanchard, 2021. "Resilience-based management for small-scale fisheries in the face of global changes and uncertainties," Bordeaux Economics Working Papers 2021-20, Bordeaux School of Economics (BSE).
    3. Huang, Ling & Smith, Martin D., 2011. "Management of an annual fishery in the presence of ecological stress: The case of shrimp and hypoxia," Ecological Economics, Elsevier, vol. 70(4), pages 688-697, February.
    4. Barbier, Edward B., 2012. "A spatial model of coastal ecosystem services," Ecological Economics, Elsevier, vol. 78(C), pages 70-79.
    5. Cropper, Maureen L. & Isaac, William, 2011. "The Benefits of Achieving the Chesapeake Bay TMDLs (Total Maximum Daily Loads): A Scoping Study," RFF Working Paper Series dp-11-31, Resources for the Future.
    6. Kroetz, Kailin & Kuwayama, Yusuke & Vexler, Caroline, 2019. "What is a Fish Out of Water? The Economics Behind the Joint Management of Water Resources and Aquatic Species in the United States," RFF Working Paper Series 19-09, Resources for the Future.

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    More about this item

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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