Assessing Efficiency Gains from Individual Transferable Quotas: An Application to the Mid‐Atlantic Surf Clam and Ocean Quahog Fishery

• Published in: American Journal of Agricultural Economics
• Main Author: Weninger, Quinn
• Format: Article in Journal/Newspaper
• Language: English
• Published: Wiley 1998
• Subjects: Economics and Econometrics; Agricultural and Biological Sciences (miscellaneous); Ocean quahog
• Online Access: http://dx.doi.org/10.2307/1244061; https://onlinelibrary.wiley.com/doi/pdf/10.2307/1244061

Abstract Delayed fishing fleet restructuring complicates the assessment of efficiency gains from individual transferable quota (ITQ) fisheries management programs. This article presents a methodology to estimate harvest sector efficiency gains in lieu of incomplete fleet restructuring. The methodology is applied to assess the efficiency gains in the Mid‐Atlantic surf clam and ocean quahog fishery ITQ program. While roughly 128 vessels harvested clams under the previous management regime, the analysis suggests that 21–25 vessels will remain under lTQs. The efficiency gains are estimated to be between $@@‐@@11.1 million and $@@‐@@12.8 million annually (1990 dollars).