The Contribution of Unmeasurable Inputs to Fisheries Production : An Analysis of Technical Efficiency of Fishing Vessels in the English Channel

Variations in the efficiency of demersal trawlers operating in the English Channel were examined through the estimation of a stochastic frontier production function. The most important measurable factor affecting efficiency was the age of the vessel. However, unmeasurable factors accounted for about 65% of the variation in efficiency, and as much as 9% of the total variation in catches between boats. It is postulated that most of this variation was due to differences in skipper and crew skill. In contrast, "luck" accounted for around 11% of the variation in catches between boats