The Prices for For-Hire Marine Fishing Trips in the Southeastern U.S. Collected from Websites

Understanding the economics of for-hire fishing.

Information on the prices for for-hire fishing services is needed to understand the economics of the industry. Prices are used along with data on for-hire fishing trip costs and effort to calculate the profitability of the sector. Longer price series can be used to estimate demand and supply relationships for for-hire services that help to predict how trip activity is expected to change with proposed regulations. We can learn a lot about how much different trip features are worth to anglers by examining the variation in prices for for-hire services over space and time. This is because the prices for for-hire fishing trips are determined in the market and vary depending on the demand for trips by anglers and the supply of trips provided by the for-hire industry. Changes in factors that affect the demand and supply of for-hire services will cause for-hire prices to change over time and space. Therefore, data on prices for multiple periods and geographic locations will allow for better economic analyses. The U.S. National Marine Fisheries Service currently does not collect information about prices for for-hire services in the southeastern U.S. This data collection is novel way of obtaining information on the prices and related characteristics of for-hire fishing operations.

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Last updated by Southeast Fisheries Science Center on June 29, 2019