Northwest Fisheries Science Center

Display All Information

Document Type: Journal Article
Center: NWFSC
Document ID: 4540
Title: Making Cents Out Of Barter Data from the British Columbia Groundfish ITQ Market
Author: Daniel S. Holland
Publication Year: 2013
Journal: Marine Resource Economics
Volume: 28
Issue: 4
Pages: 311-30
Keywords: markets, barter,Individual Quotas
Abstract:


Quota prices in fisheries managed with individual transferable quotas (ITQs) can reveal information about the fishery that can be useful to participants and to fishery managers. However, there has been relatively little study of quota markets and no published analysis of market transactions that involve barter (quota for quota) transactions which are frequently observed in multispecies ITQ systems and comprise a high proportion of quota market activity in the British Columbian groundfish ITQ. I propose a modified hedonic method for estimating implicit prices from these transactions and test it with Monte Carlo experiments before applying it to quota market data. While the methods appears to provide good results in the experiments, applying it to empirical data is problematic when there are a large number of species traded in  a relatively thin market.
 

Description:

Econometric study of British Colubia ITQ market focused on  barter transactions.

Theme: Ecosystem Approach to Management for the California Current Large Marine Ecosystem
Foci: Describe the interaction between human activities and ecosystem status and resilience.
Official Citation:

Holland, D.S. 2013. Making Cents Out of Barter Data from the British Columbia Groundfish ITQ Market. Marine Resource Economics 28(4):311-30.