American lobster ({\it Homarus americanus\/}) market study with analysis for management

Edward James Richardson, University of Rhode Island

Abstract

A study was made of the effects on prices and landings of two successive 1/32" annual increases in the minimum size at first capture governing the U.S. American lobster (Homarus americanus) fishery. Study methods included primary data collection, structural econometric modeling and time series analysis, lobster population-dynamics simulation modeling, a lobster pricing experiment, and Theil and Goldberger's mixed-estimation procedure. It was estimated that the first increase in minimum size at first capture reduced the wholesale value of 1988 U.S. landings by about $2.7 million (1989 dollars) initially, and that the combined effects of both size increases reduced the wholesale value of 1989 landings by about \$5.6 million (1989 dollars). Estimates of U.S. live-lobster industry structure, trade, and regional distribution were provided, and the fundamental characteristics of the U.S. lobster market reviewed. Recent industry developments, including the 1987-1993 Gulf of St. Lawrence minimum-size increase program, fresh-frozen American lobster tails, the 1990 U.S. prohibition of trade with small live lobsters, and the 1991 federal definition of overfishing, were discussed. The market effects of possible future Canadian minimum-size increases were considered, and used to illustrate how alternative U.S. harvest regulations could alter the traditional pattern of lobster prices. ^

Subject Area

Economics, Agricultural|Agriculture, Fisheries and Aquaculture

Recommended Citation

Edward James Richardson, "American lobster ({\it Homarus americanus\/}) market study with analysis for management" (1993). Dissertations and Master's Theses (Campus Access). Paper AAI9332464.
http://digitalcommons.uri.edu/dissertations/AAI9332464

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