Optimal Levels for Canada's Pacific Halibut Catch

Cook, B.A.; Copes, Parzival

doi:10.1086/mre.4.1.42628976

Cited by 17 publications

(10 citation statements)

References 8 publications

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“…Using IPHC annual data from 1955 through 1984, they found that the real ex vessel price (combined Canadian and U.S.) was dependent on North American landings, the length of the halibut season, U.S. cold storage holdings and the U.S. real wholesale price of all finfish. In studying the optimal levels of the Canadian Pacific halibut catch, Cook and Copes (1987) estimated Canadian ex vessel price as a function of Canadian harvest, season length and the price of salmon. The authors noted that a simultaneous equation model that included ex vessel, cold storage, wholesale and retail demand would be preferable in order to remove any possible simultaneous equation bias.…”

Section: Literaturementioning

confidence: 99%

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Estimating the Induced Price Increase for Canadian Pacific Halibut with the Introduction of the Individual Vessel Quota Program

Herrmann

1996

Canadian J Agri Economics

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British Columbia s Individual Vessel Quota (IVQ) system for Pac$c halibut was implemented in 1991.Part of the anticipated benefits of an IVQ program for a formerly derby-style fishery are derived from additional revenues generated from an increased season length, which allows for more of the product to be marketed fresh and for new market niches to be developed. This paper is one of the first to empirically examine the ex vessel price effects and the resulting revenue eflects of an IVQ system for a derby $shery in which IVQs are imposed. It is found that the price received for B.C. Pacific halibut has increased substantially over what it would have been iSthere were no IVQ program, and that the price increase grew during the four years during which the program was implemented. The total revenue benefit from the IVQ system to the B.C.$shers over the four years examined totaled C$23.22 million.C'est en I991 que la Colombie-Britannique mettait en place son programme de contingentement des prises par navire (IVQ) pour la p&he du p&an du Pac$que. Une partie des avantages escomptt5 d 'un programme de ce genre pour une p&he auparavant fonctionnant en rPgime d 'ac&s ouvert provient des recherches additionnelles gtnSes par 1 hllongement de la saison de p&he, laquelle autorise la vente en frais d 'une plus grande proportion des prises et la criation de nouveau crkneaux dans le march& L 'article est un des premiers ti examiner sur une base empirique les effets de 1 'imposition d 'un systgme IVQ ci des pecheries h ac&s ouvert, au plan des prix d&barq&s et des recettes qui en dt?coulent. I1 a & constatk que les prix perGus pour leflktan du PaciJique se sont accrus substantiellement par rapport ci ce qu 'ils auraient &t& sans 1 'imposition du nouveau rkgime de contingentement. On a constat aussi que 1 'accroissement des prix s 'est accent& dans les quatre ans de l'application du &gime. L 'augmentation des recette totales rkaliskes par les p&heurs de la Colombie-Britannique au tours de ces quatre an&es se montait li 23,22 millions de dollars canadiens.

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Section: Literaturementioning

confidence: 99%

“…The empirical application of season length as a demand shifter has been used in studies by Lin et al (1987), Cook and Copes (1987) and Homans (1993).…”

Section: The Modelmentioning

confidence: 99%

Estimating the Induced Price Increase for Canadian Pacific Halibut with the Introduction of the Individual Vessel Quota Program

Herrmann

1996

Canadian J Agri Economics

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“…This has also been estimated by Cook and Cook's OLS estimate is given below. Cook and Copes (1987) have shown previously that total costs in this fishery are non-linear in effort expended. Here we adopt the same quadratic total cost function as Cook.…”

Section: Y = Qexmentioning

confidence: 85%

“…For a full discussion of this model the reader is referred to Schaefer (1954). Cook (1983) carried out a time series estimation over the period 1930-1980 to obtain OLS estimates of r and k. Full details are given in Cook (1983); his numerical estimates are given below.…”

Section: Journal Of Economicmentioning

confidence: 99%

“…In particular, the steady-state population values do not appear to be particularly sensitive to changes in parameters. An initial value for the population has been calculated using the data given by Cook and Copes (1987); the estimated value is 752.7. In the light of this, the steady-state population values given in Table I seem plausible. It is also clear from Table I that the optimal steady-state aggregate harvest level and fishing effort increase with the number of fishermen harvesting the stock.…”

Section: Numerical Solutions For Various Values Of Nmentioning

confidence: 99%

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A Differential Game Model of Canada′s Pacific Halibut Fishery

Chappell¹,

Dury²,

Straker³

1992

Journal of Economic Studies

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. IntroductionIn an interesting article, Cook and Copes (1987) derived expressions for the optimal levels for Canada's Pacific halibut catch. A bioeconomic analysis of the fishery was carried out and, using empirical estimates of Canadian cost and revenue relationships, optimal equilibrium harvesting levels were established under several different criteria.Recently Cook (1988) extended these results and considered a model of the fishery which incorporated dynamic effects. The dynamic character of the model derives essentially from discounting future profits or other benefits. Cook showed that the steady-state population of halibut was a decreasing function of the discount rate, whereas steady-state values of fishing effort and harvest level increased with the discount rate. However, for any plausible level of discount rate Cook showed that the actual level of effort expended in the fishery over quite a long period of time far exceeded the optimal level under any of the criteria considered. The purpose of this article is to consider the dynamic model of the fishery as an open-loop differential game. We feel this is intuitively appealing since any fishery of this type comprises many "small" fishermen each independently pursuing his goals. We assume that each fisherman maximizes the future discounted stream of his own profits; thus the differential game is a non-zero-sum, non-co-operative game. The reasons for using an open-loop formulation are twofold. First, it is plausible because the fishermen cannot directly observe the value of the state variable (fish population); second, because of the non-linearities involved, the closed-loop game would be so intractable as to be almost impossible to analyse. Our analysis provides a better explanation than the optimal control model of Cook, which is essentially a special case of the differential game, i.e. a game with one player. We show that optimum effort levels increase with the number of fishermen and come close to those observed empirically in this fishery.

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