| Summary: | This article implements a discrete choice model of fishery participation in the multispecies trawl fisheries of the Bering Sea/Aleutian Islands Region off Alaska. Nonparametric estimates of the operation‐specific moments of quasirent by fishery and week are used to explain probabilities of choosing different target fisheries. There are pronounced risk aversion, seasonal, and relative performance effects. Notably, the model runs with regularly collected data, so this type of discrete choice modeling can be used routinely in the management and policy evaluation process. Improvements are needed, though, in both the quality and the extent of economic data on fisheries in Alaska and elsewhere in the United States. (JEL Q22, C25, Q28)
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