世界银行-信息在拥挤的渔业中的价值（英）-2023.8-40页_1mb

Value of Information in Congested Fisheries: A Case Study on Peru’s Anchoveta Fishery

• Congestion can reduce fishery value despite better information, due to increased efficiency costs.
• Using high-resolution data from Peru’s anchoveta fishery (world’s largest by catch), the study found that:
  • More precise private information increases expected industry profits.
  • More precise public information has a positive but smaller impact and may reduce welfare.
• Key parameters:
  • Congestion costs measured as τ ≈ 0.392, indicating moderate congestion.
  • Negative correlation (ρ ≈ 0.266) between public and private information reduces the benefit of public information.
  • Relative precision (r ≈ 0.89) shows private information is slightly less accurate than public information.
• Policy implications: Improving private information (e.g., firm investments in forecasting) can enhance profits, while public information disclosures may inadvertently harm welfare due to congestion.