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PAST AND FUTURE MANAGEMENT OF A COLLAPSED FISHERY: THE BAY OF BISCAY ANCHOVY |
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| Authors: | ITZIAR LAZKANO LINDA NØSTBAKKEN RAÚL PRELLEZO |
| Affiliation: | 1. Department of Economics, University of Wisconsin‐Milwaukee, WI 53202 School of Freshwater Sciences, University of Wisconsin‐Milwaukee, WI 53202 E‐mail:lazkano@uwm.edu;2. Alberta School of Business, University of Alberta, Canada;3. Marine research division, AZTI‐Tecnalia, Spain |
| Abstract: | Abstract We analyze the efficiency of the international management of the Bay of Biscay anchovy. While a sharing agreement between France and Spain has been in place since 1992, the fish stock collapsed in 2005 and the fishery closed from 2005 to spring 2010. We consider differences in production technologies between both countries and calibrate our model using data from 1987 to 2009. Our results suggest two sources of rent dissipation under the existing sharing agreement: inefficient quota allocation and production inefficiencies due to inflexible national regulations. We discuss several alternatives to improve management. |
| Keywords: | Fisheries management international agreements stock collapse transboundary resources |