Table 8. Estimated within and across state price flexibilities for
 states participating in the Gulf of Mexico Reef Fish Fishery


State Florida Alabama Mississippi Louisiana Texas

Florida -0.882 -

Alabama -0.270 -0.007 ---

Mississippi -0.369 --- -0.380 -

Louisiana -0.401 --- --- 0.007 ---

Texas -0.202 -- -0.130



Alabama and Louisiana landings have virtually no effect on their price.

Florida's dominance with respect to price determination in the GMRFF is

confirmed by the estimated cross state price flexibilities. With the

exception of Mississippi, quantity landed in Florida has a much larger

effect on each state's price than does the corresponding within state

catch. For Alabama and Louisiana, which have almost no effect on their

own price, a 10 percent increase in Florida reef fish catch is estimated

to cause price decreases of 2.7 and 4.0 percent, respectively.

 The time trend variables in the estimated price equations were

included as proxy variables for demand shifters such as income and

population. The relative magnitude of the estimated parameters cor-

responding to these variables in relation to the estimated catch parame-

ters suggest that demand shifts over the sample period have served to

create a steady increase in the dockside price of reef fish. It should

be noted, however, that price is measured in nominal terms. Hence, the

time trend variables are in all probability measuring some price in-

creases due to inflation as well as other demand effects. Thus, the