Effort control in the New England groundfish fishery: a bioeconomic perspective

Abstract

A multispecies model of the New England fishery was developed to investigate selected biological and economic implications of effort control on groundfish. Performance measures, such as catch, spawning stock biomass, and catch per unit effort, as well as harvest revenue and consumer surplus were used to compare and contrast different levels of effort. Results suggest that significant gains in biological and economic benefits are possible, but major reductions in effort and some short-term losses in catch would be required. Large increases in catch per unit effort on the order of 3–5 times current values would occur, especially for flatfish and haddock. Additional revenues of approximately $10–13 million (U.S.) per year would accrue after several years with overall reductions in effort on this complex of stocks. Changes in stock age-structure would contribute to additional revenues because of the interaction of fish size, price, and increased biomass. Consumers would eventually profit from the lower prices that accompany increased landings. Additional benefits may be obtained after stock rebuilding occurs by application of management measures that stockpile biomass in the initial years of a planning horizon and harvest accumulated stock later.