Does Better Information Increase Fishery Profits?
Englander, Gabriel, Larry S. Karp and Leo K. Simon
In the world’s largest fishery, we find that better information about the location and size of fish populations would decrease fishery profits. This counterintuitive result occurs because the congestion costs arising from vessels fishing in the same places and times are large.
Value of information, Peruvian anchoveta, imperfect information, public versus private information, congestion, natural resources, marine fisheries.
Englander, Gabriel, Larry S. Karp and Leo K. Simon. 2022. "Does Better Information Increase Fishery Profits?" ARE Update 25(6): 9-11. University of California Giannini Foundation of Agricultural Economics.