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<OL> <LI>Improve the development of seafood markets by focusing on analyses of new marketing themes, market niches, and alternative seafood products <LI>Enhance fishery and aquaculture production by developing decision support tools to integrate management and marketing <LI> Increase the organizational and institutional efficiency of the aquaculture and fishery sectors by analyzing the regulatory environment and developing ideas to support the sectors
Non-Technical Summary: Aquaculture and capture fisheries provide a significant source of protein and economic activity for people in the U.S. and other countries. In addition to pond, tank, cage, and raceway production, aquaculture broadly interacts with capture fisheries by providing hatchery raised fish and shellfish that are released into the wild to enhance or rebuild wild stock populations, thereby providing support for both commercial and recreational fisheries (NOAA 2008). Capture fisheries also interact with aquaculture products in exchange markets, regulatory environments, and economic development activities. The importance of the multifaceted relationship between aquaculture and capture fisheries suggests a need for reliable economic studies of these two critical resources, especially as management, regulatory, and market demands change over time. Each project undertaken as part of the objectives is aimed at increasing the profitability of the U.S. capture fishery and aquaculture industries, either through improvement of management schemes for natural fishery resources or the optimization of production and marketing practices for all seafood products (wild and farm-raised). <P> Approach: Use of primary and secondary data surveys to collect information on key product characteristics for use in marketing activities, elicit pricing information for different product sources and forms, and apply statistical models to analyze data, including price forecasting and analysis of policy changes. Characterize the market substitution effects of the capture fishery products for imported aquaculture products. Use bioeconomic models to analyze and improve the firm-level feasibility, efficiency, and management of aquaculture production for several species. Track the structures of significant sector programs in New England and Alaska, along with indicators of their success such as participant satisfaction, sector membership stability, sector profitability, and stock health measures. Conduct economic modeling of community-based management institutions. Use economic experiments to test these models. Explore the dominant regulations and institutions affecting aquaculture and determine how they can be adjusted to meet regulatory objectives without undermining aquaculture innovation and competitiveness.