Estimation of a Generalized Fishery Model

A Two-Stage Approach

Bibliographic Data

ID19320104
AuthorsJunjie Zhang (0000-0002-7145-8233, University of California San Diego), Martin D Smith (0000-0002-4714-463X, Duke University)
Year2011
Volume93
Issue2
Pages690-699
Publication date2011-05-01
Open AccessNo
TypeARTICLE
VenueThe Review of Economics and Statistics (JOURNAL)
Journal identifiersISSN: 0034-6535 • E-ISSN: 1530-9142
PublisherMIT Press - Journals (PUBLISHER)
DOI10.1162/rest_a_00075
OpenAlexW3125257458
LanguageEN
Citations received7
References cited24

U.S. federal law calls for an end to overfishing, but measuring overfishing requires knowledge of bioeconomic parameters. Using microlevel economic data from the commercial fishery, this paper proposes a two-stage approach to estimate these parameters for a generalized fishery model. In the first stage, a fishery production function is consistently estimated by a within-period estimator treating the latent stock as a fixed effect. The estimated stock is then substituted into an equation of fish stock dynamics to estimate all other biological parameters. The bootstrap approach is used to correct the standard errors in the two-stage model. This method is applied to the reef-fish fishery in the northeastern Gulf of Mexico. The traditional method, which uses catch-per-unit-effort as a stock proxy, significantly overstates the optimal harvest level

Biology · Catch per unit effort · Econometrics · Economics · Estimator · Fish · Fish <Actinopterygii> · Fish stock · Fishery · Fishing · Geography · Overfishing · Proxy (statistics) · Statistics · Stock (firearms) · Stock assessment · Economic and Environmental Valuation · Economics of Agriculture and Food Markets · Marine and fisheries research · Mathematics

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