Parametric and Semiparametric Efficiency Frontiers in Fishery Analysis: Overview and Case Study on the Falkland Islands

摘要: Provision of adequately valued individual transferable quotas and effort is essential for sustainability profitability a fishery. Despite possible misleading consequences policy-making, the extent to which fishery inefficiency estimates rankings may depend on model used, has received less attention. This paper first reviews determinants fishers’ behaviour under regulated harvesting, with Falkland Islands as focus case. Next, ‘best scenario’ long-term equilibrium framework outlined, regime fishing seasons implemented in Islands, followed by an overview panel data stochastic frontier models, specific regard fisheries. To test hypotheses impact mainly ITEQ-based fisheries, two parametric one semiparametric rely different assumptions frontiers scores. Relative companies operating seas, regression highlight relevance economies scale, vessel ownership, climatic factors among others, improved cost effectiveness, revenue efficiency frontier-enhancing/inefficiency-reducing effects, following implementation new regime. Within either modelling approach, differs marginally across specifications, but mismatches levels emerge between models. southern hake catches trawlers, approach suggests upward shifts output regime, scores substantially unaltered functional specifications.