ECONOMIC EFFICIENCY OF ALTERNATIVE BYCATCH-REDUCTION POLICIES AND BYCATCH REDUCTION DEVICES

Wui, Yong-Suhk; Woodward, Richard T.; Griffin, Wade L.

ECONOMIC EFFICIENCY OF ALTERNATIVE BYCATCH-REDUCTION POLICIES AND BYCATCH REDUCTION DEVICES

Autores

Wui, Yong-Suhk

Woodward, Richard T.

Griffin, Wade L.

Descripción

This paper examines the ability of two new policies to reduce bycatch of red snapper by the shrimp fishery in the Gulf of Mexico: Fractional License and Fractional Gear Programs, as proposed by Townsend, reduce bycatch by reducing the effort levels of shrimp vessels. The policies are evaluated both theoretically and using a simulation model, and they are compared with the current regulatory policy requiring shrimp vessels to use bycatch reduction devices to rebuild red snapper stocks. We find that either a FL program or a FG program could reduce effort and the related problem of bycatch resulting in improving red snapper stocks, while at the same time increasing economic welfare in the fishery.