The influence of the supply and demand characteristics of fisheries on the benefits from economic improvement programs [Southern Zone rock lobster fishery, South Australia]
1988
Staniford, A.J. (South Australian Dept. of Fisheries, Adelaide)
A partial equilibrium model of a fishery is reviewed. An empirical model, suitable for estimating the annual gross economic benefits attainable from economic improvement programs that successfully rationalize fisheries, is developed and applied to the Southern Zone rock lobster fishery in South Australia. The effect of supply and demand characteristics of the fishery on annual gross economic benefits is examined. The results indicate that the actual costs of overexploitation are very sensitive to the supply and demand characteristics of the fishery. Economic improvement programs are likely to produce large gross benefits to society relative to the size of the fishery, when the fisheries are both exploited biologically and where the demand for fish is price elastic.
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