Counterfactual Modeling of Multispecies Fisheries Outcomes under Market-Based Regulation

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Author(s)Birkenbach, Anna M.
Author(s)Lee, Min-Yang
Author(s)Smith, Martin D.
Date Accessioned2024-04-17T18:45:02Z
Date Available2024-04-17T18:45:02Z
Publication Date2024-04-04
DescriptionThis article was originally published in Journal of the Association of Environmental and Resource Economists, volume 11, number 3, May 2024. © 2024 The Association of Environmental and Resource Economists. All rights reserved. Published by The University of Chicago Press for The Association of Environmental and Resource Economists. The version of record is available at: https://doi.org/10.1086/727356. This article will be embargoed until 04/04/2025.
AbstractMuch of the recent work evaluating economic impacts of rights-based management (“catch shares”) in fisheries relies on treatment effects models, which typically identify net effects of the policy change but not underlying causal mechanisms. We develop a structural discrete choice model of individual vessel behavior to elucidate how catch shares—and the policies that they replace—influence species targets, timing of fishing activity, and the value generated from the resource. We estimate our model using trip-level data on 286 New England groundfish vessels before and after catch-share implementation. Controlling for weather, costs, and prices, we recover structural parameters characterizing microlevel targeting decisions and simulate the effects of removing input controls and replacing them with catch shares. We find that, under catch shares, the fleet experienced longer and more even fishing seasons, somewhat higher groundfish revenues, fewer closures, and a more balanced portfolio of target stocks than in the counterfactual. Dataverse data: https://doi.org/10.7910/DVN/PJ4YZZ
SponsorAnna M. Birkenbach (corresponding author) is at the School of Marine Science and Policy and Department of Economics, University of Delaware, 207 Robinson Hall, Newark, DE 19716 (abirken@udel.edu). Min-Yang Lee is at the Northeast Fisheries Science Center, National Oceanic and Atmospheric Administration Fisheries. Martin D. Smith is at the Nicholas School of the Environment and Department of Economics, Duke University. We thank NOAA and a North Carolina Sea Grant for financial support, Seleni Cruz for research assistance, three anonymous reviewers, and participants at North American Association of Fisheries Economists (NAAFE), AERE, International Institute of Fisheries Economics and Trade (IIFET), the Allied Social Science Associations (ASSA), and the Southern Economic Association (SEA) for helpful comments. We especially thank John Walden, Matthew Reimer, Andrew Scheld, and Frank Asche for detailed feedback. The authors declare no known interests related to this study.
CitationBirkenbach, Anna M., Min-Yang Lee, and Martin D. Smith. “Counterfactual Modeling of Multispecies Fisheries Outcomes under Market-Based Regulation.” Journal of the Association of Environmental and Resource Economists 11, no. 3 (May 1, 2024): 755–96. https://doi.org/10.1086/727356.
ISSN2333-5963
URLhttps://udspace.udel.edu/handle/19716/34290
Languageen_US
PublisherJournal of the Association of Environmental and Resource Economists
Keywordsmicrolevel behavioral modeling
Keywordsfisheries
Keywordsrights-based management
TitleCounterfactual Modeling of Multispecies Fisheries Outcomes under Market-Based Regulation
TypeArticle
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