Journal Article

Potential rent and overcapacity in the Swedish Baltic Sea trawl fishery for cod (<i>Gadus morhua</i>)

Håkan Eggert and Ragnar Tveterås

in ICES Journal of Marine Science

Published on behalf of ICES/CIEM

Volume 64, issue 3, pages 439-445
Published in print April 2007 | ISSN: 1054-3139
Published online March 2007 | e-ISSN: 1095-9289 | DOI: http://dx.doi.org/10.1093/icesjms/fsm019
Potential rent and overcapacity in the Swedish Baltic Sea trawl fishery for cod (Gadus morhua)

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Eggert, H. and Tveterås, R. 2007. Potential rent and overcapacity in the Swedish Baltic Sea trawl fishery for cod (Gadus morhua). – ICES Journal of Marine Science, 64: 439–445.

Many European Union (EU) fisheries have problems with depleted stocks and fleet overcapacity following the regulation of open-access regimes. Some EU countries have introduced individual vessel quotas (IVQs), which can stop “the race to catch” and provide fishers with incentives to minimize costs for a given catch. We model an IVQ fishery using a cost function approach and apply the methodology to the Swedish cod fishery in the Baltic Sea. Estimating a translog cost function for a data set of Swedish trawlers in 2001, we assess the potential gains from structural adjustment of the fleet. Results suggest a desired fleet reduction of 50–60% and a potential resource rent amounting to 25–30% of the landing value.

Keywords: cost function; efficiency gains; individual vessel quotas; Swedish fisheries

Journal Article.  5415 words.  Illustrated.

Subjects: Environmental Science ; Marine and Estuarine Biology

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