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Limited-Entry Licensing: Insights from a Duration Model

Martin D. Smith
American Journal of Agricultural Economics
Vol. 86, No. 3 (Aug., 2004), pp. 605-618
Stable URL: http://www.jstor.org/stable/3697803
Page Count: 14
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Limited-Entry Licensing: Insights from a Duration Model
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Abstract

Limited entry is used to manage many fisheries. Effectiveness depends on a program's ability to control aggregate fishing power, which fleet size and composition both affect. This article analyzes fleet composition and attrition in a limited-entry fishery, the California red sea urchin fishery. It explores the dynamics of heterogeneity in catch and revenue and applies duration analysis to study individual fisherman attrition using both individual-level and time-varying covariates. The results show that the fleet is becoming more homogenous but also more potent and spatially mobile. Regulations such as size limits and season restrictions tend to increase attrition.

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