Fish Stock Conservation Measures and the Irish Fishing Industry

The decline in fish stocks is well documented and numerous efforts are in place to preserve and rebuild stocks. While conservation programmes have the potential to improve profitability, this usually will not occur before contraction in the fishery (in landings, incomes, employment, etc.). Conservation programmes are therefore risky ventures for fishermen, because they may not financially survive until profitability improves and because the programme itself might not deliver its promises. One crucial element in commercial stock replenishment measures is the co-operation and support of fishermen. Using recent survey data fishermen's opinions on the current state of fish stocks and on the viability of conservation programs are investigated. The paper also examines fishermen's attitudes to risk and estimates their subjective risk premium on stock conservation programmes. The results suggest that fishermen support the need for stock replenishment measures but evidence of high discount premiums required for acceptance of risky stock replenishment programs indicates that voluntary participation without compensation cannot be assumed.