109


Table 11. Estimated catch, profits and effort levels corresponding to
 maximum economic yield in the Gulf of Mexico Reef Fish
 Fishery


 Profit
State Catch Total r Nominal Standardized
 profit vper b vessels vessels
 vessel


Florida 6,315.1 1,955.3 14.4 136 104

Alabama 1,563.8 242.6 13.9 18 46

Mississippi 3,530.2 963.8 38.2 25 83

Texas 81.3 12.8 9.1 1 2


 TOTAL 11,490.4 3,174.5 180 235

 aCatch measured in thousands of bounds.

 Profit figures expressed in thousands of dollars.



highest profit per vessel with an average profit of about $38,200, while

Texas vessels are the least profitable, averaging only $9,100 per vessel.

 The absolute profits of vessels operating from different states in

the fishery are different for several reasons. First, vessels in dif-

ferent states have different fishing power resulting from different crew

sizes and tonnages. These differences should result in differences in

average profit per vessel. In conjunction with this is the fact that

the captain and crew are considered to represent a psuedo partnership

via the crew share system. Thus, differences in share arrangements

across states and variations in average crew sizes also lead to differ-

ing profit levels across states. Finally, the catch composition of red

snapper and grouper varies across states. Thus, vessels in states which