Abstract
In this article, we assess the effect that two different fishery management regimes have on the duration of the fishing trip. A basic theoretical model predicts that trip duration should increase with temporal closures and decrease with an individual quota system. Therefore, we propose and apply an empirical trip duration model. Estimations are based on data for the pelagic fleet in central-southern Chile. Conforming to the theoretical predictions, the results indicate that temporal closures tend to increase trip duration, whereas individual quotas reduce it. Moreover, the regulatory regimes also affect the magnitude of the impact that other determinants have on trip duration. The results are consistent with increased efficiency in fleet operation under an individual quota system.
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