Stated preferences for size and bag limits of Alaska charter boat anglers

Over the last several years, significant regulatory changes related to Pacific halibut Hippoglossus stenolepis have occurred in the for-hire recreational charter boat fishing sector in Alaska. In addition to limited entry restrictions and adoption of a catch sharing plan that provides a formal means of determining allocation between the commercial and charter boat fishing sectors, more restrictive harvest regulations were placed on anglers fishing from charter boats. This article provides insights into how the value anglers place on charter boat fishing is affected by these regulations, principally bag and size limits. Such information is helpful in assessing the trade-offs in economic benefits associated with different regulatory tools used to manage angler harvest levels. Stated preference choice experiment data from a 2012 survey are analyzed using a panel rank-ordered mixed logit model to estimate the economic value, or willingness to pay (WTP), non-resident anglers place on saltwater charter boat fishing trips in Alaska and to assess how changes in characteristics of fishing trips, particularly harvest restrictions related to Pacific halibut, affect this value. The model specification accounts for a wide array of size and bag limit restrictions that have been recently implemented or are under consideration by Pacific halibut fishery managers. The results indicate that very strict harvest restrictions have the effect of driving WTP to zero, while allowing at least one (potentially) large fish to be caught is valuable to anglers. The results also suggest that WTP for fishing trips with bag limits that allow two or more fish to be harvested with no size restrictions on the first fish harvested are not statistically different from the value for trips for larger bag limits or for the case where all the fish in the limit can be any size. This suggests that fishery managers can restrict the size of the second fish in a two-fish bag limit and still maintain economic values for fishing trips.