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Value versus Volume in the Catch of the Spanish South‐Atlantic Trawl Fishery

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  • Ines Herrero
  • Sean Pascoe

Abstract

An understanding of the link between the level of inputs and resultant level of outputs is of considerable importance when trying to manage fisheries through input controls. To this end, studies of several fisheries have been undertaken to examine this relationship through the estimation of production functions and frontiers, using either catch weight or revenue as the dependent variable. The choice of the appropriate output variable to use in the analysis will depend on the objectives of the fishermen. Maximisation of catch weight is often proposed as an objective of fishermen rather than maximisation of profits. In this paper, the technical efficiency scores of vessels operating in the Spanish south‐Atlantic trawl fishery are estimated using the stochastic production frontier approach. The production frontiers are estimated with both the weight and the value of the catch as the dependent variable. The results of the analysis suggest that fishermen adopt a range of strategies but relatively few aim to maximise catch weight only. The differences in strategies may reflect heterogeneous attitudes towards risk, with more risk averse fishermen aiming to trade‐off some potential catch value for a more certain quantity of catch.

Suggested Citation

  • Ines Herrero & Sean Pascoe, 2003. "Value versus Volume in the Catch of the Spanish South‐Atlantic Trawl Fishery," Journal of Agricultural Economics, Wiley Blackwell, vol. 54(2), pages 325-341, July.
    • Handle: RePEc:bla:jageco:v:54:y:2003:i:2:p:325-341
    DOI: 10.1111/j.1477-9552.2003.tb00066.x
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    1. Álvarez, Antonio, 2001. "Some Issues on the Estimation of Technical Efficiency in Fisheries," Efficiency Series Papers 2001/02, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    2. Álvarez, Antonio & Orea, Luis, 2001. "Different Methods of Modeling Multi-Species Fisheries Using a Primal Approach," Efficiency Series Papers 2001/04, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
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    1. Solís, Daniel & del Corral, Julio & Perruso, Larry & Agar, Juan J., 2014. "Evaluating the impact of individual fishing quotas (IFQs) on the technical efficiency and composition of the US Gulf of Mexico red snapper commercial fishing fleet," Food Policy, Elsevier, vol. 46(C), pages 74-83.
    2. Trond Bjorndal & Phoebe Koundouri & Sean Pascoe, 2004. "Output Substitution in Multi-Species Trawl Fisheries: Implications for Quota Setting," DEOS Working Papers 0408, Athens University of Economics and Business.
    3. Eihab Fathelrahman & Aydin Basarir & Mohamed Gheblawi & Sherin Sherif & James Ascough, 2014. "Economic Risk and Efficiency Assessment of Fisheries in Abu-Dhabi, United Arab Emirates (UAE): A Stochastic Approach," Sustainability, MDPI, vol. 6(6), pages 1-21, June.
    4. Pham, Thi Duy Thanh & Huang, Hsiang-Wen & Chuang, Ching-Ta, 2014. "Finding a balance between economic performance and capacity efficiency for sustainable fisheries: Case of the Da Nang gillnet fishery, Vietnam," Marine Policy, Elsevier, vol. 44(C), pages 287-294.
    5. Lindebo, Erik & Hoff, Ayoe & Vestergaard, Niels, 2007. "Revenue-based capacity utilisation measures and decomposition: The case of Danish North Sea trawlers," European Journal of Operational Research, Elsevier, vol. 180(1), pages 215-227, July.
    6. Pascoe, Sean & Hutton, Trevor & Coglan, Louisa & Nguyen, Van Quang, 2018. "Implications of efficiency and productivity change over the season for setting MEY-based trigger targets," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 62(2), April.
    7. Daniel Solís & Larry Perruso & Julio del Corral & Brent Stoffle & David Letson, 2013. "Measuring the initial economic effects of hurricanes on commercial fish production: the US Gulf of Mexico grouper (Serranidae) fishery," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 66(2), pages 271-289, March.
    8. Lampe, Hannes W. & Hilgers, Dennis, 2015. "Trajectories of efficiency measurement: A bibliometric analysis of DEA and SFA," European Journal of Operational Research, Elsevier, vol. 240(1), pages 1-21.
    9. Bisera Andrić Gušavac & Selman Karagoz & Milena Popović & Dragan Pamućar & Muhammet Deveci, 2023. "Reconcilement of conflicting goals: a novel operations research-based methodology for environmental management," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(8), pages 7423-7460, August.
    10. James Innes & Sean Pascoe, 2008. "Productivity Impacts of Veil Nets on UK Crangon Vessels," Journal of Agricultural Economics, Wiley Blackwell, vol. 59(3), pages 574-588, September.
    11. Morrison Paul, Catherine J. & Felthoven, Ronald G. & de O. Torres, Marcelo, 2010. "Productive performance in fisheries: modeling, measurement, and management," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(3), pages 1-18.
    12. Bangwayo-Skeete, Prosper F. & Bezabih, Mintewab & Zikhali, Precious, 2010. "Are Zimbabwe’s Fast Track Land Reform Farms more Technically Efficient than Communal Farms?," Quarterly Journal of International Agriculture, Humboldt-Universitaat zu Berlin, vol. 49(4), pages 1-21.
    13. Sean Pascoe & Phoebe Koundouri & Trond Bjørndal, 2007. "Estimating Targeting Ability in Multi-Species Fisheries: A Primal Multi-Output Distance Function Approach," Land Economics, University of Wisconsin Press, vol. 83(3), pages 382-397.
    14. Alvarez, Antonio & Couce, Lorena & Trujillo, Lourdes, 2019. "Does Specialization Affect the Efficiency of Small-Scale Fishing Boats?," Efficiency Series Papers 2019/03, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    15. Quang Nguyen & Sean Pascoe & Louisa Coglan & Son Nghiem, 2021. "The sensitivity of efficiency scores to input and other choices in stochastic frontier analysis: an empirical investigation," Journal of Productivity Analysis, Springer, vol. 55(1), pages 31-40, February.
    16. Herrero, Ines, 2005. "Different approaches to efficiency analysis. An application to the Spanish Trawl fleet operating in Moroccan waters," European Journal of Operational Research, Elsevier, vol. 167(1), pages 257-271, November.
    17. Álvarez, Antonio, 2003. "Econometric Estimation of Fishing Production Functions when Stocks is Unknown: A Monte Carlo Analysis," Efficiency Series Papers 2003/09, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).

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