Dynamic Modeling of the Eastern Gulf of Mexico Shrimp Fishery

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Abstract
The impact of alternative management schemes on the shrimp fishery of the eastern Gulf of Mexico is analyzed and compared to a baseline using simulation techniques. The fishery's biological and economic functions are modeled including intraseasonal shrimp growth rates, differences in demand for shrimp by size, and a heterogenous fishing fleet. Using consumer and producer surplus techniques, new fishing regulations appear socially optimal compared to the baseline. A rent‐maximization scheme increases social surplus to its highest level. However, applying such a scheme to one part of the total Gulf of Mexico shrimp fishery is not recommended.

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