Economic Analysis of a Potential Overfishing Problem: The North Carolina Hard Clam Fishery

摘要

The recent increase in landings in the North Carolina hard clam fishery has triggered concern of potential overfishing. The overfishing problem is investigated in the study by contrasting historical data and the empirical supply curve with the long run steady-state supply curve. The steady-state supply curve is derived from intertemporal maximization of social welfare subject to population dynamics. The empirical supply curve is estimated using a simultaneous equation model. Since these results are based on the mean value estimated from the past 20 years' catch-effort data, the maxima sustainable yield may be underestimated, and the economic overfishing statement may be too conservative.