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Description

The fishing gear used in most fisheries, including the groundfish fisheries off Alaska, is not completely selective. That is, it results in catch of target species as well as other species that are often not intended to be taken. The latter catch is referred to as bycatch because it is a byproduct of the effort to take the target species. From an economic perspective, the fisheries management objective is often to minimize the cost of bycatch where that cost consists of what will be referred to as the impact, control, and management costs. The impact cost is the cost resulting from restrictions imposed on those who harvest, process, market, or consume the species taken as bycatch. The control cost is the cost borne by a fishery when it takes actions to control its bycatch. Management cost is the cost of management agencies of implementing and enforcing a management measure to control bycatch. Two methodological approaches used to quantitatively assess the economic impacts of a management program designed to minimize these costs are presented. These are benefit-cost analysis, which includes, as a prerequisite, price response modeling, and input-output analysis. The empirical application of benefit-cost analysis to the issue of halibut bycatch in groundfish fisheries off the coast of Alaska is discussed, and data needs and limitation are identified.

Publication Date

4-17-1980

Keywords

Fishing, Industry, Economics

Handle

http://hdl.handle.net/11122/14370

The Role of Economics in Bycatch Valuation

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