The technology and management of multi-species fisheries

Abstract

Abstract This paper presents a dual-based approach for determining forms of stock management in a multi-species or multiproduct fishery. A dual revenue function is specified and estimated for the New England, Georges Bank, multiproduct, trawl fishery. Two forms of the techonolgy, nonjointness-in-inputs and separability among outputs, often implicitly assumed by managers in formulating regulations are rejected. Important techinical and economic interactions which are usually ignored in fisheries management are shown to characterize the fishery. Last, it is demonstrated that different types of management and regulations may be necessary if a fleet is comprised of heterogeneous fishing firms.