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Abstract
The Eastern tuna and billfish fishery (ETBF) is currently managed through an input quota
system based on individual transferable effort units (the number of hooks) and a total
allowable effort level (i.e. total number of hooks) A spatial management policy based on a
series of differential hook-penalties has been proposed as a flexible tool to discourage vessels
operating in certain areas (e.g. those with high bycatch potential) and encourage operating in
other areas (e.g. with less bycatch potential). In this study, the importance of catch rates per
hook to location choice is assessed through the estimation of a nested multinomial logit
model. Other variables in the model include distance to the location, prices of the main
species, fuel prices and vessel characteristics. The effects of increasing hook penalties in key
areas on fishing effort in those areas and elsewhere are assessed. Implications for vessel
economic performance are also assessed.