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|Title:||Price Effects of Changing Quantities Supplied at the Integrated European Fish Market|
|Authors:||NIELSEN Max; SMIT J.; GUILLEN GARCIA JORDI|
|Citation:||MARINE RESOURCE ECONOMICS vol. 27 no. 2 p. 165–180|
|Type:||Articles in periodicals and books|
|Abstract:||Abstract. As opposed to earlier studies, this analysis on the effect on fish prices of changing quantities supplied from EU fish stocks is European-wide, taking international markets integration into account. The average own-price flexibilities for fresh captured fish are -1.1. Assuming exogenous supply, this magnitude implies that price flexibilities estimated for single European countries in earlier studies underestimate price changes at the European level caused by quantity changes. Results indicate that changing quantities can potentially increase revenues from individual species with large own-price flexibilities, provided that the stocks supply a significant share of the total EU supply. That is found to be the case for sole and anchovies, but not for cod and hake. Thus, for example, for sole the short run falls in fishermen incomes following quota and thereby quantity reductions are partly compensated by rising prices. But for anchovies it only happens when quotas are reduced for several stocks simultaneously.|
|JRC Directorate:||Space, Security and Migration|
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