Regulatory Change, Market Structure, and Fatalities: The Case of the Gulf of Mexico Reef Fish Fishery

Dakhlia, Sami; Marvasti, Akbar

doi:10.1007/s11151-019-09712-7

Cited by 4 publications

(4 citation statements)

References 21 publications

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“…The SAFMC, in contrast, has not yet limited entry into for-hire fishing, let alone separated out management of it from the general recreational angler. We have also avoided discussing safety at sea issues, although there is evidence that the Gulf's management has resulted in improvements [41], or compliance rates [42].…”

Section: Discussionmentioning

confidence: 99%

Quantifying the economic effects of different fishery management regimes in two otherwise similar fisheries

Liese

Crosson

2023

PLoS ONE

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In the southeast U.S., two very similar fisheries are managed by very different management regimes. In the Gulf of Mexico Reef Fish fishery, all major species are managed by individual transferable quotas (ITQs). The neighboring S. Atlantic Snapper-Grouper fishery continues to be managed by traditional regulations such as vessel trip-limits and closed seasons. Using detailed landings and revenue data from logbooks together with trip-level and annual, vessel-level economic survey data, we develop financial statements for each fishery to estimate cost structures, profits, and resource rent. By comparing the two fisheries from an economic perspective, we illustrate the detrimental effects of the regulatory measures on the S. Atlantic Snapper-Grouper fishery and quantify the difference in economic outcomes, including estimating the difference in resource rent. We find that the choice of fishery management regime shows up as a regime shift in the productivity and profitability of the fisheries. The ITQ fishery generates substantially more resource rents than the traditionally managed fishery; the difference is a large fraction of revenue (~30%). In the S. Atlantic Snapper-Grouper fishery, the potential value of the resource has almost completely dissipated via lower ex-vessel prices and hundreds of thousands of gallons of wasted fuel. Excess use of labor is a lesser issue.

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Section: Discussionmentioning

confidence: 99%

Quantifying the economic effects of different fishery management regimes in two otherwise similar fisheries

Liese

Crosson

2023

PLoS ONE

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“…We make the simplifying assumption that the threshold safe wind speed is the same for all vessels. Indeed, Dakhlia and Marvasti (2020) find a positive correlation between accident probability and vessel size for commercial vessels in the Gulf of Mexico during the 2000–2015 period. Thus, despite their greater seaworthiness, larger vessels are more prone to fatal accidents at every level of wind speed, as shown in Figure 1.…”

Section: Data and Risk Measurementmentioning

confidence: 99%

“…of fatal accident as a function of wind speed, by vessel length ( l , in ft.). Based on Dakhlia and Marvasti (2020).…”

Section: Data and Risk Measurementmentioning

confidence: 99%

Moral hazard and selection bias in insurance markets: Evidence from commercial fisheries

Marvasti,

Dakhlia

2023

Southern Economic Journal

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Using a panel dataset of commercial fisheries in the Gulf of Mexico, we attempt to separately identify the moral hazard and self‐selection effects of property insurance coverage among commercial fishers. We use captains' propensity to take fishing trips under adverse weather conditions as a proxy for their private information; these data are available to us, but not to insurers. We find that vessels with higher long‐term exposure to risk are significantly less likely to be insured, suggesting potential advantageous selection. However, this relationship dissipates once we control for information likely known to the insurer. Finally, using a Heckit estimator, we find evidence of moral hazard: insured captains take more risks at sea.

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“…The effect of wind speed on landing is unclear, because empirical analysis does not show a consistent and/or robust relation between wind speed and the level of output (Alvarez and Schmidt ; Dakhlia and Marvasti forthcoming and Solís et al ).…”

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confidence: 99%

Value of Life and Injury: Evidence From a U.S. Fishery

Marvasti

2020

Contemporary Economic Policy

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Here, revealed trade‐offs between monetary rewards and safety risk for shrimp fishermen in the Gulf of Mexico are investigated. Shrimp harvesting is one of the most dangerous occupations in the United States with an occupational fatality rate significantly above the average. The instrumental variables method is employed for estimation of the injuries and fatalities. My estimates of the value of a statistical life and the value of statistical injury, using the sample selection model, are in line with the estimates from other industries and provide useful information for public policy. (JEL J17, Q2, K2, D2)

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Regulatory Change, Market Structure, and Fatalities: The Case of the Gulf of Mexico Reef Fish Fishery

Cited by 4 publications

References 21 publications

Quantifying the economic effects of different fishery management regimes in two otherwise similar fisheries

Quantifying the economic effects of different fishery management regimes in two otherwise similar fisheries

Moral hazard and selection bias in insurance markets: Evidence from commercial fisheries

Value of Life and Injury: Evidence From a U.S. Fishery

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