Catch Regulation And Accident Risk: The Moral Hazard Of Fisheries' Management
AbstractA theoretical model focusing on the interaction between safety and fishery regulation is introduced in order to discuss the fishing units' behavior and the public policies' effect upon fatality rates and cost efficiency in the industry. The optimal welfare outcomes for a nontransferable and transferable vessel quota regime are compared and possible advantages and disadvantages of practicing these fishery regulations are identified. Among other things, the authors recommend the public authorities pay attention to moral hazard effects which may follow when the levels of public risk reducing services are increased.
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 12 (1997)
Issue (Month): 4 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Research Methods/ Statistical Methods; Resource /Energy Economics and Policy;
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- Peltzman, Sam, 1975. "The Effects of Automobile Safety Regulation," Journal of Political Economy, University of Chicago Press, vol. 83(4), pages 677-725, August.
- W. Kip Viscusi, 1979. "The Impact of Occupational Safety and Health Regulation," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 117-140, Spring.
- Risa, Alf Erling, 1992. "Public Regulation of Private Accident Risk: The Moral Hazard of Technological Improvements," Journal of Regulatory Economics, Springer, vol. 4(4), pages 335-46, December.
- Martin Smith & James Wilen, 2005. "Heterogeneous and Correlated Risk Preferences in Commercial Fishermen: The Perfect Storm Dilemma," Journal of Risk and Uncertainty, Springer, vol. 31(1), pages 53-71, July.
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