Simulation Results Use of Time
| Use of Time | |||||
|---|---|---|---|---|---|
| Institution | Velocity (knots) | Pot Lifts per Fishing Day | Soak Time (days) | Fishing Days | Trips |
| (a) LE232 | 12.5 | 143.6 | 1.24 | 3.71 | 1 |
| (b) LE78 | 12.5 | 160.1 | 1.74 | 6.45 | 1 |
| (c) IQ232 | 5.94 | 61.4 | 1.05 | 5.43 | 1 |
| (d) IQ78 | 6.55 | 85.2 | 1.49 | 10.29 | 2 |
| Use of Space | |||||
| Institution | Pots | Distance (nm) | Inverse Cong. Index | Own Inverse Cong. Index | |
| (a) LE232 | 178.61 | 1.10 | 0.716 | 0.974 | |
| (b) LE78 | 278.88 | 0.89 | 0.961 | 0.977 | |
| (c) IQ232 | 64.67 | 1.85 | 0.975 | 0.981 | |
| (d) IQ78 | 126.65 | 1.33 | 0.979 | 0.982 | |
| Production/Rents | |||||
| Institution | Catch per Day (crabs) | Avg. Variable Cost ($/crab) | Rents per Vessel ($) | Total Rents ($) | |
| (a) LE232 | 2,581 | 2.24 | 234,370 | 54,373,840 | |
| (b) LE78 | 4,412 | 1.18 | 795,850 | 62,076,300 | |
| (c) IQ232 | 1,762 | 1.10 | 244,590 | 56,744,880 | |
| (d) IQ78 | 2,765 | 0.81 | 810,220 | 63,197,160 | |
Note: The total effect of ITQ introduction is row (a) vs. row (d) (treatment A). The incentive effect is row
(a) vs. row (c) (treatment B) or row (b) vs. row (d) (treatment C). The consolidation effect is row (a) vs. row
(b) (treatment D) or row (c) vs. row (d) (treatment E). The rents reported here are measured before payments to labor, reflecting the nature of the share system in the red king crab fishery.