Vitae
I am an Associate Professor of Environmental and Natural Resource Economics in the Department of Economics at Iowa State University. My research applies economic theory and econometric methods to study and improve the management of natural resource-based industries. Much of my work examines the impacts of market-based management approaches in ocean fisheries. More recent research includes methods to improve the management and regulation of multiple-species fisheries resources, and an empirical study that examines real world decision making under uncertainty.
Recent Papers
Benefits of management reform in the Gulf of Mexico grouper fishery: A semi-parametric analysis, Resource and Environmental Economics, forthcoming download pdf
Search and active learning with correlated information: evidence from Mid-Atlantic clam fishermen, Journal of Economic Dynamics and Control, 32 (2008): 1921-1848, with Philippe Marcoul download pdf
Fisheries management with stock growth uncertainty and costly capital adjustment, Journal of Environmental Economics and Management, 52 (2006): 582-599, with Rajesh Singh and Matthew Doyle download pdf
Meetings with costly participation: an empirical analysis, Review of Economic Studies, 72, Number 1 (January 2005): 247-268, with Matthew Turner download pdf
Economic benefits of management reform in the northern Gulf of Mexico reef fish fishery, Journal of Environmental Economics and Management, 46, Issue 2, (September 2003): 207-230, with James A. Waters download pdf
Working Papers
Bio-Economies of scope and the discard problem in multiple-species fisheries download pdf
This paper considers the problem of fisheries management when targeting individual species is costly and at-sea discards of fish by fishermen are unobserved by the regulator. A dynamic model is developed to balance ecological interdependencies among multiple fish species, and scope economies implicit in costly targeting technologies. Stock conditions, ecosystem interaction, technological specification, and relative prices under which at sea discards are acute are identified. Three regulatory regimes, species-specific harvest quotas, landing taxes, and revenue quotas, are contrasted against a hypothetical sole owner problem. An optimal plan under each regimes precludes discarding. For both very low and very high degrees of technological interdependence, first best welfare is close to that achieved through regulation. In general, landing taxes welfare dominate species-specific quota regulation; a revenue quota fares the worst.
Economic impacts of individual fishing quota management in the pacific coast groundfish fishery download pdf
This paper characterizes anticipated changes in fleet structure, individual vessel harvesting activity, and economic performance in the pacific coast groundfish fishery under an individual fishing quota management program. Results suggest that the current fleet of 117 vessels will be reduced by roughly 50% - 66% to 40-60 vessels, resulting in annual cost savings of $18 - $22 million (based 2004 price and cost estimates). However, cost savings could be significantly less if restrictions on quota trading across vessels are incorporated into the program design. Alternative modes of taxing fishing revenues to fund program administration and their impact on fleet size and total fishery value under quota management are also studied. We conclude that individual fishing quotas can be an attractive alternative for management of the pacific coast groundfish fishery.
Individual fishing quotas in the eastern Gulf of Mexico grouper fishery: fleet restructuring, effort reduction and cost savings download pdf
This paper estimates a structural model of multiple-species harvesting costs in the eastern Gulf of Mexico reef fish fishery. The calibrated model is used to predict fleet size, vessel-level harvesting activity and fleet-wide revenues and costs that are expected under a proposed individual fishing quota (IFQ) management program for grouper species. Results suggest that significant fleet downsizing, scale economies and pure efficiency gains will emerge under IFQs. Overall, IFQs appear to be an attractive alternative to the current controlled access management program in the fishery.
Halibut Project
SEARCH, LEARNING AND DYNAMIC CHOICE UNDER UNCERTAINTY: AN EMPIRICAL ANALYSIS OF ALASKAN HALIBUT FISHERMEN
This goal of this project is to provide new empirical knowledge about how people form expectations about uncertain events that affect their lives, and how people process and learn from new information. During the 2006 and 2007 west coast commercial halibut fishing seasons our research team recorded individual fishermen beliefs about the catch and weather uncertainty they face, and the choices that they made about where and when to fish. The data will be used to test competing theories of decision-making, learning and search under uncertainty, and to identify, and quantify the effects of biased belief formation, if found. The results are expected to make important contributions to the fields of behavioral psychology and behavioral economics. In addition to better understanding how individuals form beliefs, and make repeated choices under uncertainty, the data will be used to determine how prevalent biased judgment is among experienced decision makers. The data will be used to document and quantify the effects of judgment bias on the economic performance of fishermen, and to measure the influence of social networks on choice under uncertainty.
Results from this study are expected in the fall of 2008.
Personal Information
I was born and raised in Kelowna, British Columbia which is located in the Okanagan Valley in south central B.C. My education and career has taken me through Alberta, Alaska, Maryland, Utah, Washington State, and Iowa. Elizabeth and I were married in 1995 and we have two great kids. Below are pictures of Sam and Lucy; baking cookies and pheasant hunting with some of their friends.
