Economic Values of Potential Regulation Changes for the Southern Flounder Fishery in Louisiana

Abstract

Population declines of Southern Flounder Paralichthys lethostigma have reached levels that present management concerns in Louisiana waters. As the need for regulatory change in this fishery approaches, we conducted a survey to better characterize the Southern Flounder fishery in Louisiana, with two primary goals: (1) determining a value for the economic welfare provided by the fishery and (2) evaluating how this value might change in response to hypothetical regulation scenarios. Based on total travel cost estimates, the aggregate economic value of the Southern Flounder fishery among coastal Louisiana anglers reached an estimated US$119.7 million; however, this value primarily stems from anglers targeting multiple species during their coastal angling trips, as the value of the Southern Flounder fishery while only accounting for anglers that solely targeted this species amounted to an estimated $8.4 million. Respondents revealed strong levels of supportiveness for all regulation scenarios that increased limitations on allowable harvest for Southern Flounder. None of the hypothetical regulation scenarios led to significant behavioral responses in the expected number of coastal angling trips taken, leaving the economic value of coastal Louisiana fisheries unchanged. The results of our study illustrate the relatively inconsequential nature of Southern Flounder regulations upon the behavior of coastal Louisiana anglers. The information gathered by this survey can be used to guide the decision-making process in developing a sustainable management strategy that is supported by stakeholders and that keeps the strong economic values of coastal Louisiana fisheries intact.