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Research
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Virginia Sea Grant funded research Managing Flounder Openings for Maximum Revenue Daniel Kauffman, Christina Hilmer, Daniel Taylor (Va Tech) Our objectives are to determine whether seasonality in demand for summer flounder exists and to optimize summer flounder openings so fishermen can take advantage of peak demand periods, given an assumption of seasonality We plan to examine summer flounder demand econometrically through the prism of a semiflexible normalized quadratic inverse demand system. Then, using that summer flounder demand system build a linear optimization model that tells regulators the “best” times to open the fluke season. Currently state regulators open the flounder season with only a little reference to summer flounder demand. They say it’s because they don’t have demand information in a useable form. Seasonal openings, which allow the use of the summer flounder quota, are often done on precedent rather than on economics. This study will give regulators economic information that will help them choose better times to open the season. Regulators will use this study to re-balance the openings towards high demand periods and total sector revenue should increase. |
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Virginia Sea Grant • Virginia Institute of Marine Science |
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