Costs of Delaying Conservation: Regulations and the Recreational Values of Exploited and Co-occurring Species

Several species of rockfishes (Sebastes spp.) in the Puget Sound of Washington have recently been listed under the Endangered Species Act. Bag limits for rockfishes have been restricted as a result, and recreational by-catch may prompt additional restrictions on trips targeting co-occurring species. A mixed logit model is estimated on discrete choice experiment data in order to simulate the effects of a set of regulations intended to conserve rockfish populations on recreational use values. Measures intended to limit rockfish by-catch mortality are shown to have economic impacts that are orders of magnitude larger than a direct adjustment in rockfish regulations.