| Summary: | A bioeconomic model of the North Atlantic swordfish (Xiphias gladius) fishery is developed to evaluate policy-relevant management options as changes from the status quo. The model accounts for heterogeneity in vessel and trip characteristics, including the number of sets placed and catch composition. Results indicate that five-year economic returns to the U.S. Atlantic pelagic longline (PLL) fleet can be increased by reducing juvenile swordfish mortality or fleet size (and possibly changing fleet composition). These policies may not be effective, however, if implemented simultaneously. Domestic management of the swordfish fishery was found to be effective, despite the small share of the international quota. Lastly, producer surpluses earned by the domestic PLL vessel owners are significantly affected by: (1) changes in swordfish demand (due to, for example, the recent chef's boycott), (2) success at negotiating the swordfish quota share, (3) catch rates, and (4) relative costs of heterogeneous vessels and trip behavior.
|
|---|