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• 121. [Article] Valuing Ecosystem Services: Oysters, Denitrification, and Nutrient Trading Programs

  Maryland, Pennsylvania, Virginia, and West Virginia have all developed nutrient trading programs to defray the cost of achieving mandated nitrogen load reductions in Chesapeake Bay, and there is increasing ...

  Citation × Citation Citation Abstract Copy Title: Valuing Ecosystem Services: Oysters, Denitrification, and Nutrient Trading Programs Author: DePiper, Geret S., Lipcius, Romuald N., Lipton, Douglas W. Maryland, Pennsylvania, Virginia, and West Virginia have all developed nutrient trading programs to defray the cost of achieving mandated nitrogen load reductions in Chesapeake Bay, and there is increasing interest in the role oysters can play in generating credits. A number of bioeconomic models highlight the impact these credits have in optimizing oyster harvest rates, but all overlook a major limiting factor in oyster population dynamics: oyster shell is an oyster’s preferred settling medium. Harvest thus impacts oyster productivity through the removal of both extant oysters and the future shell habitat. This is extremely important given that the removal of shell and oyster meat is a major channel by which nutrient credits could be generated. Further, recent research suggests that multiple oyster reef equilibria exist, and reef height determines the trajectory of oyster population change. In this research we couple a biological model of an oyster population, including shell dynamics, to a value function and analyze optimal oyster harvest regimes. The value function incorporates both the oyster harvesting profits and the value of an oyster reefs’ nutrient sequestration and denitrification. We then maximize the net present value of the oyster reef, using numerical dynamic programming and simulation techniques for a reasonable range of biological and economic parameters, to provide policy guidance on the trade-off between harvest, sequestration and denitrification services. Results indicate that optimal harvest rates are more sensitive to variability in the biological rather than economic parameters, although some level of harvest is almost always optimal. Title: Valuing Ecosystem Services: Oysters, Denitrification, and Nutrient Trading Programs Author: DePiper, Geret S., Lipcius, Romuald N., Lipton, Douglas W. Maryland, Pennsylvania, Virginia, and West Virginia have all developed nutrient trading programs to defray the cost of achieving mandated nitrogen load reductions in Chesapeake Bay, and there is increasing interest in the role oysters can play in generating credits. A number of bioeconomic models highlight the impact these credits have in optimizing oyster harvest rates, but all overlook a major limiting factor in oyster population dynamics: oyster shell is an oyster’s preferred settling medium. Harvest thus impacts oyster productivity through the removal of both extant oysters and the future shell habitat. This is extremely important given that the removal of shell and oyster meat is a major channel by which nutrient credits could be generated. Further, recent research suggests that multiple oyster reef equilibria exist, and reef height determines the trajectory of oyster population change. In this research we couple a biological model of an oyster population, including shell dynamics, to a value function and analyze optimal oyster harvest regimes. The value function incorporates both the oyster harvesting profits and the value of an oyster reefs’ nutrient sequestration and denitrification. We then maximize the net present value of the oyster reef, using numerical dynamic programming and simulation techniques for a reasonable range of biological and economic parameters, to provide policy guidance on the trade-off between harvest, sequestration and denitrification services. Results indicate that optimal harvest rates are more sensitive to variability in the biological rather than economic parameters, although some level of harvest is almost always optimal. Close

• 122. [Article] Operationalizing Open-Source Electronic Monitoring in New England Groundfish Sectors: Is the Future of Monitoring More Cost Effective than the Past?

  Electronic monitoring (EM) systems hold promise for the future collection of fishery-dependent data, either to supplement human at-sea observers or replace them. Several pilot studies have been conducted ...

  Citation × Citation Citation Abstract Copy Title: Operationalizing Open-Source Electronic Monitoring in New England Groundfish Sectors: Is the Future of Monitoring More Cost Effective than the Past? Author: Barney, Amanda, Joyce, Jessica Electronic monitoring (EM) systems hold promise for the future collection of fishery-dependent data, either to supplement human at-sea observers or replace them. Several pilot studies have been conducted on EM in the New England groundfish fleet, though there are still on the water operational and shore-side protocols to further test and refine, not to mention the lack of guiding policy around an EM program for the groundfish fleet. The Gulf of Maine Research Institute and Ecotrust Canada, along with the Maine Coast Community Sector and The Nature Conservancy are entering the third year of a collaborative project to operationalize EM systems on gillnet and trawl vessels in groundfish sectors. The focus of the systems in the first two years has been to obtain species IDs and weights (from lengths) from the video to validate captain’s estimates of the same data in their haul-by-haul log. In Year 3, we are collaborating with NMFS to develop an EM project in fishing year (FY) 2015 that will continue to test proof of concept for a fully operational system in FY 2016 that would replace sector at-sea monitors (ASMs). The groundfish fleet may have to fund ASMs as early as FY2015, and there is a need for a more cost-effective alternative to human observers. This project has been designed with the industry cost-limitations in mind, and depending on the ultimate program requirements for EM, may prove some cost savings to fishermen, but what are the trade-offs? Title: Operationalizing Open-Source Electronic Monitoring in New England Groundfish Sectors: Is the Future of Monitoring More Cost Effective than the Past? Author: Barney, Amanda, Joyce, Jessica Electronic monitoring (EM) systems hold promise for the future collection of fishery-dependent data, either to supplement human at-sea observers or replace them. Several pilot studies have been conducted on EM in the New England groundfish fleet, though there are still on the water operational and shore-side protocols to further test and refine, not to mention the lack of guiding policy around an EM program for the groundfish fleet. The Gulf of Maine Research Institute and Ecotrust Canada, along with the Maine Coast Community Sector and The Nature Conservancy are entering the third year of a collaborative project to operationalize EM systems on gillnet and trawl vessels in groundfish sectors. The focus of the systems in the first two years has been to obtain species IDs and weights (from lengths) from the video to validate captain’s estimates of the same data in their haul-by-haul log. In Year 3, we are collaborating with NMFS to develop an EM project in fishing year (FY) 2015 that will continue to test proof of concept for a fully operational system in FY 2016 that would replace sector at-sea monitors (ASMs). The groundfish fleet may have to fund ASMs as early as FY2015, and there is a need for a more cost-effective alternative to human observers. This project has been designed with the industry cost-limitations in mind, and depending on the ultimate program requirements for EM, may prove some cost savings to fishermen, but what are the trade-offs? Close

• 123. [Article] Recent Adjustments in Northeast US Fresh Groundfish and Scallop Processing and Marketing

  The North Atlantic U.S. groundfish and scallop processing industries are a tale of two fisheries. The groundfish processing industry has suffered a steep, almost continual decline in landings starting ...

  Citation × Citation Citation Abstract Copy Title: Recent Adjustments in Northeast US Fresh Groundfish and Scallop Processing and Marketing Author: Georgianna, Daniel, Lee, Min-Yang The North Atlantic U.S. groundfish and scallop processing industries are a tale of two fisheries. The groundfish processing industry has suffered a steep, almost continual decline in landings starting in 1984 that resulted in 2014 landings that were only 16% of 1983 landings. US scallop landings increased from 5 million mt in 1998 to 30 mill mt in 2004, remaining around that peak until 2012. Both processing industries had to adjust: groundfish processors had to find new sources of fresh groundfish and other products to fill customers’ orders and scallop processors had to find new customers to buy its surplus product. This study used interviews with processors and data on landings, imports and exports to examine the marketing strategies of these processing industries to adjust to trends in landings and to evaluate their success within the confines the US Magnuson-Stevens Act. After imported whole groundfish from Canada were eliminated as substitutes for local landings, groundfish processors increased diversification of products as substitute for fresh groundfish to fill their customers’ orders, scouring the world for products such as Pacific cod, other groundfish, and some pelagic species. They also skipped the wholesale market to sell direct to retailers and restaurants. Not all succeeded, processing plants declined by almost half since 1990. Scallop processors successfully developed new markets for scallops, through exports and IQF packing for restaurants. The doubling of ex-vessel scallop prices, adjusted for inflation, since 2000 shows their success, which also supports processors’ claims that steady increasing supply improves product sales. Title: Recent Adjustments in Northeast US Fresh Groundfish and Scallop Processing and Marketing Author: Georgianna, Daniel, Lee, Min-Yang The North Atlantic U.S. groundfish and scallop processing industries are a tale of two fisheries. The groundfish processing industry has suffered a steep, almost continual decline in landings starting in 1984 that resulted in 2014 landings that were only 16% of 1983 landings. US scallop landings increased from 5 million mt in 1998 to 30 mill mt in 2004, remaining around that peak until 2012. Both processing industries had to adjust: groundfish processors had to find new sources of fresh groundfish and other products to fill customers’ orders and scallop processors had to find new customers to buy its surplus product. This study used interviews with processors and data on landings, imports and exports to examine the marketing strategies of these processing industries to adjust to trends in landings and to evaluate their success within the confines the US Magnuson-Stevens Act. After imported whole groundfish from Canada were eliminated as substitutes for local landings, groundfish processors increased diversification of products as substitute for fresh groundfish to fill their customers’ orders, scouring the world for products such as Pacific cod, other groundfish, and some pelagic species. They also skipped the wholesale market to sell direct to retailers and restaurants. Not all succeeded, processing plants declined by almost half since 1990. Scallop processors successfully developed new markets for scallops, through exports and IQF packing for restaurants. The doubling of ex-vessel scallop prices, adjusted for inflation, since 2000 shows their success, which also supports processors’ claims that steady increasing supply improves product sales. Close

• 124. [Article] Comprehensive Fishery Wealth: A Bioeconomic, Ecosystem-Based Approach to Measuring Fisheries Sustainability

  Fisheries sustainability is a much sought-after goal. Yet, “sustainability” is often too ambiguously defined to be of much practical guidance to policymakers. Furthermore, fisheries managers are increasingly ...

  Citation × Citation Citation Abstract Copy Title: Comprehensive Fishery Wealth: A Bioeconomic, Ecosystem-Based Approach to Measuring Fisheries Sustainability Author: Fenichel, Eli P., Abbott, Joshua K. Fisheries sustainability is a much sought-after goal. Yet, “sustainability” is often too ambiguously defined to be of much practical guidance to policymakers. Furthermore, fisheries managers are increasingly expected to assess and manage fisheries in an “ecosystem-based” manner – accounting for the ecological interdependencies of species and their coupling with the physical environment. We build upon the green accounting and sustainable development literatures to downscale indices often used to measure sustainability at the nation-state scale to measure the current and projected future sustainability of exploited fishery ecosystems. We argue that the sustainability of a fishery ecosystem can be assessed by whether the properly measured value of the natural, physical and human capital stocks embodied within the fishery (i.e., the comprehensive fishery wealth) is non-decreasing over time. We extend our published work (Fenichel and Abbott 2014) to show how ecosystem models of fisheries can be integrated with bioeconomic models of human “predators’” responses to changes in multispecies fish stocks and policy to provide rigorous “shadow prices” for all species within the system and fishing capital. These prices can then be multiplied by their associated capital stocks to provide an index of inclusive fishery wealth. Changes in this index (i.e., comprehensive investment) allow managers to assess the ability of past and current fishery management regimes to maintain wealth within the fishery for future generations. Finally, we show how our wealth accounting approach – when coupled with ecosystem-based bioeconomic models – can be leveraged to prospectively evaluate the sustainability and efficiency of alternative management approaches. Title: Comprehensive Fishery Wealth: A Bioeconomic, Ecosystem-Based Approach to Measuring Fisheries Sustainability Author: Fenichel, Eli P., Abbott, Joshua K. Fisheries sustainability is a much sought-after goal. Yet, “sustainability” is often too ambiguously defined to be of much practical guidance to policymakers. Furthermore, fisheries managers are increasingly expected to assess and manage fisheries in an “ecosystem-based” manner – accounting for the ecological interdependencies of species and their coupling with the physical environment. We build upon the green accounting and sustainable development literatures to downscale indices often used to measure sustainability at the nation-state scale to measure the current and projected future sustainability of exploited fishery ecosystems. We argue that the sustainability of a fishery ecosystem can be assessed by whether the properly measured value of the natural, physical and human capital stocks embodied within the fishery (i.e., the comprehensive fishery wealth) is non-decreasing over time. We extend our published work (Fenichel and Abbott 2014) to show how ecosystem models of fisheries can be integrated with bioeconomic models of human “predators’” responses to changes in multispecies fish stocks and policy to provide rigorous “shadow prices” for all species within the system and fishing capital. These prices can then be multiplied by their associated capital stocks to provide an index of inclusive fishery wealth. Changes in this index (i.e., comprehensive investment) allow managers to assess the ability of past and current fishery management regimes to maintain wealth within the fishery for future generations. Finally, we show how our wealth accounting approach – when coupled with ecosystem-based bioeconomic models – can be leveraged to prospectively evaluate the sustainability and efficiency of alternative management approaches. Close

• 125. [Article] Diversification or Specialization: The Impact of U.S. West Coast Trawl Rationalization on Multiregional Fishery Participation and Effort

  "Rationalization” or the change to catch share management in fisheries has been shown to lead to the slowing of fishing activity, input and effort consolidation, cost savings, as well as new market and ...

  Citation × Citation Citation Abstract Copy Title: Diversification or Specialization: The Impact of U.S. West Coast Trawl Rationalization on Multiregional Fishery Participation and Effort Author: Kasperski, Stephen, Hsueh, Lily "Rationalization” or the change to catch share management in fisheries has been shown to lead to the slowing of fishing activity, input and effort consolidation, cost savings, as well as new market and product development. The effects of rationalization on fishermen’s behavior become more complex when one accounts for the spillover effects that catch share programs can create in other fisheries and other regions. The possession of secure harvesting privileges in one catch share fishery allows quota shareholders to expand operations in other fisheries since their share of the catch share fishery is protected (a “diversification” effect). However, there is an opportunity cost related to the slowing of the rate of fishing, given that more time spent fishing in the catch share fishery means there will be less time available for fishing elsewhere. Therefore, it is possible that more efficient vessels may expand their operations and specialize in the catch share fishery leaving the selling/lessor vessels to specialize in another fishery and/or region (a “specialization” effect). Which outcome is more likely is an empirical question, which we address by examining the recently implemented U.S. West Coast Groundfish Trawl Catch Share Program. Newly available cost and earnings data, product revenues and prices, and biological stock data allow us to calculate the average marginal effect of changes in West Coast species total allowable catches, prices, and vessel costs on the expected number of days spent fishing in Alaska to quantify the spillover effects of West Coast trawl rationalization on fisheries in Alaska. Title: Diversification or Specialization: The Impact of U.S. West Coast Trawl Rationalization on Multiregional Fishery Participation and Effort Author: Kasperski, Stephen, Hsueh, Lily "Rationalization” or the change to catch share management in fisheries has been shown to lead to the slowing of fishing activity, input and effort consolidation, cost savings, as well as new market and product development. The effects of rationalization on fishermen’s behavior become more complex when one accounts for the spillover effects that catch share programs can create in other fisheries and other regions. The possession of secure harvesting privileges in one catch share fishery allows quota shareholders to expand operations in other fisheries since their share of the catch share fishery is protected (a “diversification” effect). However, there is an opportunity cost related to the slowing of the rate of fishing, given that more time spent fishing in the catch share fishery means there will be less time available for fishing elsewhere. Therefore, it is possible that more efficient vessels may expand their operations and specialize in the catch share fishery leaving the selling/lessor vessels to specialize in another fishery and/or region (a “specialization” effect). Which outcome is more likely is an empirical question, which we address by examining the recently implemented U.S. West Coast Groundfish Trawl Catch Share Program. Newly available cost and earnings data, product revenues and prices, and biological stock data allow us to calculate the average marginal effect of changes in West Coast species total allowable catches, prices, and vessel costs on the expected number of days spent fishing in Alaska to quantify the spillover effects of West Coast trawl rationalization on fisheries in Alaska. Close

• 126. [Article] Fishermen, Markets, and Population Diversity

  Fishing impacts biodiversity on multiple levels, potentially resulting in unintended feedbacks to economic performance of the fishery over time. For example, targeting observable traits within a population ...

  Citation × Citation Citation Abstract Copy Title: Fishermen, Markets, and Population Diversity Author: Sanchirico, James N., Jardine, Sunny Fishing impacts biodiversity on multiple levels, potentially resulting in unintended feedbacks to economic performance of the fishery over time. For example, targeting observable traits within a population can impact genetic diversity, targeting populations within a species can impact population diversity, and targeting valuable species can impact biodiversity at the ecosystem level. The natural science and economics literatures, however, have given little attention to the impact of fishing on population diversity, even though population diversity is directly linked ecosystem services and estimates of population extinction rates are three orders of magnitude higher than species extinction rates. Here we develop a stochastic bioeconomic model that links the harvest of multiple salmon populations by a single commercial fishery to the trajectory of population diversity in a salmon stock complex. We parameterize our model with biological and economic data from the Copper River Chinook salmon fishery. We show that markets can incentivize the degradation of population diversity, reducing infra-marginal fishery rents and increase the variability in financial returns to the fishery. Factors impacting the magnitude of our results include the level and distribution of harvesting efficiency and market conditions. We also show that second-best management can conserve population diversity and improve welfare. Furthermore, depending fishermen’s time preferences, this management strategy is potentially self-financing. Title: Fishermen, Markets, and Population Diversity Author: Sanchirico, James N., Jardine, Sunny Fishing impacts biodiversity on multiple levels, potentially resulting in unintended feedbacks to economic performance of the fishery over time. For example, targeting observable traits within a population can impact genetic diversity, targeting populations within a species can impact population diversity, and targeting valuable species can impact biodiversity at the ecosystem level. The natural science and economics literatures, however, have given little attention to the impact of fishing on population diversity, even though population diversity is directly linked ecosystem services and estimates of population extinction rates are three orders of magnitude higher than species extinction rates. Here we develop a stochastic bioeconomic model that links the harvest of multiple salmon populations by a single commercial fishery to the trajectory of population diversity in a salmon stock complex. We parameterize our model with biological and economic data from the Copper River Chinook salmon fishery. We show that markets can incentivize the degradation of population diversity, reducing infra-marginal fishery rents and increase the variability in financial returns to the fishery. Factors impacting the magnitude of our results include the level and distribution of harvesting efficiency and market conditions. We also show that second-best management can conserve population diversity and improve welfare. Furthermore, depending fishermen’s time preferences, this management strategy is potentially self-financing. Close

• 127. [Article] An Iterated Multiyear Simulation Model to Assess Impacts of Halibut Bycatch Limits

  Bering Sea/Aleutian Islands (BSAI) groundfish fisheries are hugely productive with 2008 – 2014 harvests averaging 1.6 million tons and generating $1.95 billion annually. The BSAI also hosts a commercial ...

  Citation × Citation Citation Abstract Copy Title: An Iterated Multiyear Simulation Model to Assess Impacts of Halibut Bycatch Limits Author: Hartley, Marcus Bering Sea/Aleutian Islands (BSAI) groundfish fisheries are hugely productive with 2008 – 2014 harvests averaging 1.6 million tons and generating $1.95 billion annually. The BSAI also hosts a commercial halibut fishery with 2013 landings of 3,500 tons and revenues of $41.5 million. Downward trends in halibut biomass combined with continued bycatch mortality in the groundfish fishery pushed the commercial harvests down to 2,000 tons in 2014, with lower harvest limits expected in 2015. Halibut bycatch mortality in the groundfish fisheries have exceeded commercial halibut harvests since 2012, and barring significant changes, bycatch will continue to exceed commercial harvests. An Iterated Multi-year Simulation (IMS) model was developed to assess future impacts to both the groundfish and commercial halibut fisheries of proposed reductions of up to 35 percent from current NMFS limits on bycatch mortality, established in the groundfish management plan. The IMS-model randomly selects from the basis years (2008 – 2013) to generate a simulated future from 2014 – 2023, in which the exploitable halibut biomass is held at 2014 estimates. Each randomly drawn year brings with it the halibut bycatch from that year, along with the groundfish harvests and revenue generated. Allowable future halibut harvests are estimated using the International Pacific Halibut Commission’s harvest policy algorithm, which nets out predicted bycatch mortality from exploitable biomass levels. After 10,000 iterations, the IMS-model yields distributions of expected bycatch and harvest levels, along with estimates of changes in the net present value of revenue over the 10-year future period for both the halibut and groundfish fisheries. Title: An Iterated Multiyear Simulation Model to Assess Impacts of Halibut Bycatch Limits Author: Hartley, Marcus Bering Sea/Aleutian Islands (BSAI) groundfish fisheries are hugely productive with 2008 – 2014 harvests averaging 1.6 million tons and generating $1.95 billion annually. The BSAI also hosts a commercial halibut fishery with 2013 landings of 3,500 tons and revenues of $41.5 million. Downward trends in halibut biomass combined with continued bycatch mortality in the groundfish fishery pushed the commercial harvests down to 2,000 tons in 2014, with lower harvest limits expected in 2015. Halibut bycatch mortality in the groundfish fisheries have exceeded commercial halibut harvests since 2012, and barring significant changes, bycatch will continue to exceed commercial harvests. An Iterated Multi-year Simulation (IMS) model was developed to assess future impacts to both the groundfish and commercial halibut fisheries of proposed reductions of up to 35 percent from current NMFS limits on bycatch mortality, established in the groundfish management plan. The IMS-model randomly selects from the basis years (2008 – 2013) to generate a simulated future from 2014 – 2023, in which the exploitable halibut biomass is held at 2014 estimates. Each randomly drawn year brings with it the halibut bycatch from that year, along with the groundfish harvests and revenue generated. Allowable future halibut harvests are estimated using the International Pacific Halibut Commission’s harvest policy algorithm, which nets out predicted bycatch mortality from exploitable biomass levels. After 10,000 iterations, the IMS-model yields distributions of expected bycatch and harvest levels, along with estimates of changes in the net present value of revenue over the 10-year future period for both the halibut and groundfish fisheries. Close

• 128. [Article] The Challenge of Improving Fish Consumption in Developing Countries : The Case of Indonesia

  Research Paper

  Citation × Citation Citation Abstract Copy Title: The Challenge of Improving Fish Consumption in Developing Countries : The Case of Indonesia Author: Kusumastanto, Tridoyo Research Paper Title: The Challenge of Improving Fish Consumption in Developing Countries : The Case of Indonesia Author: Kusumastanto, Tridoyo Research Paper Close

• 129. [Article] A Study of the Impacts of Free Trade on Taiwan's Fisheries Sector - by Incorporating the Effect of Mainland China's Accession

  Research Paper

  Citation × Citation Citation Abstract Copy Title: A Study of the Impacts of Free Trade on Taiwan's Fisheries Sector - by Incorporating the Effect of Mainland China's Accession Author: Chiang, Fu-Sung Research Paper Title: A Study of the Impacts of Free Trade on Taiwan's Fisheries Sector - by Incorporating the Effect of Mainland China's Accession Author: Chiang, Fu-Sung Research Paper Close