• A comprehensive bycatch market: investigating pricing mechanisms for ecosystem accountability

      O'Brien, Erik; Little, Joseph; Greenberg, Joshua; Goering, Greg (2015-05)
      This report takes an ecosystem approach to managing targeted and non-targeted species in the Bering Sea Aleutian Island commercial fisheries. The current regulatory environment sets biological harvest limits across fish stock's entire range, although the individual components of managing fisheries within a stock may lead to economic inefficiencies and difficulties in accounting for social costs due to blunt incentives. The research presented here outlines a model for scenario analysis and pricing mechanisms at each level of harvest across a species range. Due to the modeled indifference of harvesting in targeted or non-targeted fisheries, designations are made for degrees of ownership rights and monetary transfers to balance these rights in the presence of non-target bycatch. This report argues that efficiency gains can be made by managing behavior through pricing incentives at the margin.
    • The role of property rights in bycatch reduction: evidence from the British Columbia groundfish fishery

      Edinger, Tonya; Little, Joe; Goering, Douglas; Baek, Jungho (2014)
      The following analysis seeks to contribute to the literature by examining the effectiveness of the individual vessel bycatch quota (IVBQ) system as an incentive structure for the mitigation of halibut bycatch in the British Columbia Groundfish fishery. Through the use of an OLS regression technique, this empirical analysis intends to quantify the importance and overall effectiveness of the vessel bycatch quota incentive system in respect to mitigating bycatch. The research utilizes time series fisheries data from 1962-2012, as provided by The International Pacific Halibut Commission and Fisheries and Oceans Canada. The research indicates that the IVBQ system has proven to be highly effective, confirming the significance of private property rights as a tool for the reduction of bycatch within British Columbia. Policy makers may utilize the information provided in this paper to design more feasible and effective policy options to promote the preservation of ecological balance in the management of marine resources.