Hostname: page-component-848d4c4894-pjpqr Total loading time: 0 Render date: 2024-06-19T16:14:31.940Z Has data issue: false hasContentIssue false
  • English
  • Français

Bioeconomic Modeling of the Gulf Shrimp Fishery: An Application to Galveston Bay and Adjacent Offshore Areas

Published online by Cambridge University Press:  28 April 2015

Vito Blomo ,
Kenneth Stokes ,
Wade Griffin ,
William Grant  and
John Nichols
Vito Blomo
Affiliation:
Agricultural Economics atTexas A&M University
Kenneth Stokes
Affiliation:
Agricultural Economics atTexas A&M University
Wade Griffin
Affiliation:
Agricultural Economics atTexas A&M University
William Grant
Affiliation:
Agricultural Economics atTexas A&M University
John Nichols
Affiliation:
Agricultural Economics atTexas A&M University
Get access Rights & Permissions [Opens in a new window]

Extract

The concept of laissez-faire is widely recognized in capitalistic economies. At the core of this operating philosophy is the belief that individualistic competition will result in an economic improvement, not only for the individual but also for society. However, when this approach is tied to the exploitation of a common property resource, the outcome is just the opposite—in terms of economic efficiency the common property resource is overexploited because the factor cost to the firm does not equal the opportunity cost to society. That is, although a common property resource is a scarce good to society, it is a free good to individuals. The usual result is a level of exploitation which may endanger the future biological viability of the resource. With shrimp, however, this concern is not critical because shrimp is an annual crop; fishing will cease as a result of economic, and not biological, considerations.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 10 , Issue 1 , July 1978 , pp. 119 - 125
Copyright
Copyright © Southern Agricultural Economics Association 1978

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

[1]Bertalanffy, L. Von. “A Quantitative Theory of Organic Growth (Inquiries on Growth Laws 11),” Human Biology, Volume 10,1938, pp. 181–213.Google Scholar
[2]Christmas, J. Y. and Etzold, David J.. “The Shrimp Fishery of the Gulf of Mexico, United States: A Regional Management Plan,” Gulf Coast Research Laboratory, Ocean Springs, Mississippi, Technical Report series No. 2, August 1977.Google Scholar
[3]Gates, J. and Norton, V.. “The Benefits of Fisheries Regulation; A Case Study of the New England Yellowtail Flounder Fishery,” Office of Sea Grant, Department of Resource Economics, University of Rhode Island, Kingston, Rhode Island, Marine Technical Report No. 21,1974.Google Scholar
[4]Gates, J. M. “User Manual for RECON 4: A Bio-Economic Simulator of a Fishery,” Department of Resource Economics, University of Rhode Island, Kingston, NOAA Sea Grant Marine Technical Report 25, 1974.Google Scholar
[5]Gordon, H. Scott. “The Economic Theory of a Common Property Resource: The Fishery,” Journal of Political Economy, Volume 62, April 1954, pp. 124–142.CrossRefGoogle Scholar
[6]Grant, W. and Griffin, W.. “Bioeconomic Model of the Gulf of Mexico Shrimp Resources,” Transactions of American Fisheries Society, Annual Meeting, Vancouver, British Columbia, September 16, 1977.Google Scholar
[7]Griffin, W. L. “Time Trends in the Harvesting Sector of the Gulf of Mexico Shrimp Industry,” Departmental Information Report DIR 77-SP, Texas Agricultural Experiment Station, Texas A&M University, College Station, Texas 77843, March 1977.Google Scholar
[8]Griffin, W. L., Lacewell, R. D., and Nichols, J. P.. “Optimum Effort and Rent Distribution in the Gulf of Mexico Shrimp Fisher,” American Journal of Agricultural Economics, Volume 58, 1976, pp. 644–652.CrossRefGoogle Scholar
[9]Gulf of Mexico Fishery Management Council. “A Comprehensive Summary of the Shrimp Fisher of the Gulf of Mexico: A Regional Management Plan,” Gulf Coast Research Laboratory, Ocean Springs, Mississippi 39564, April 1977.Google Scholar
[10]International Mathematical & Statistics Libraries, Inc. “Computer Subroutine Libraries in Mathematics and Statistics (Library Contents),” Houston, Texas 77036, Edition 6, April 1977.Google Scholar
[11]Osborn, K. W., Magham, B. W., and Drummond, S. B.. Gulf of Mexico Shrimp Atlas, Bureau of Commercial Fisheries, U. S. Department of Interior, Circular 312, 1967.Google Scholar
[12]United States Department of Commerce, “Fisheries of the United States, 1976,” National Oceanic and Atmospheric Administration, National Marine Fisheries Service, Current Fishery Statistics No. 7200, April 1977.Google Scholar
[13]United States Department of Commerce, National Oceanic and Atmospheric Administration, National Marine Fisheries Service, unpublished landings data, Washington, D.C., 1963–1971.Google Scholar
[14] United States Department of Commerce, National Oceanic and Atmospheric Administration, National Marine Fisheries Service, Weekly Fish and Shellfish Prices, Miami, Florida, 1975–1977.Google Scholar
[15]Worcester, D. A. “Pecuniary and Technological Externalities, Factor Rents, and Social Costs,” American Economic Review, Volume 59, December 1969, pp. 873–885.Google Scholar