Technical efficiency, which measures how well a firm transforms inputs into outputs, gives fishery managers important information concerning the economic status of the fishing fleet and how regulations may be impacting vessel profitability. Data envelopment analysis (DEA), and the stochastic...

National Oceanic and Atmospheric Administration Fisheries has conducted several buyback programs to reduce harvesting capacity in fisheries. These programs have attempted to maximize capacity reduction given a fixed budget. However, restructuring issues have not been considered. We explore the...