Reduction in Shrimp Bycatch: Effort/Stock Responses Based on the Elasticity ofDemand

摘要

Given the assumptions underlying the bioeconomic model, management measures thateliminate bycatch result in a decline in stock size caused by an increase in fishing effort in the directed fishery when demand is relatively elastic. With relatively inelastic demand, the stock recovers as fishing effort declines at the expense of jobs in the directed fishery and a loss of capital investment in fishing craft. Regulations that attempt to reduce or eliminate bycatch in the shrimp fishery must also include measures that correct the common property externality in the affected finfish fisheries to prevent future stock collapses and to increase net benefits to society.