Virtual Population Units: A New Institutional Approach to Fisheries Management
AbstractThis paper describes an alternative, rights-based approach to the economic problems of fisheries management and governance. The approach is based on the concept of a Virtual Population (VP), which provides an alternative way to define use rights in a fishery management system. Included is a comparison of harvest rates under the VP regime, â€œsole-owner,â€ and open-access regimes. In comparison, a VP solution is more efficient than open access and can approach that of a sole owner. More importantly, in our opinion, the approach contains a higher degree of local control over issues such as concentration of ownership and, unlike some community-based systems, provides an explicit, decentralized incentive for conservation. It also contains a built-in incentive mechanism for end-of-year conservation that is absent from individual transferable quotas (ITQs).
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 22 (2007)
Issue (Month): 1 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Virtual populations; virtual population units; ITQs; marginal valuation; Resource /Energy Economics and Policy; Q220; Q590; C720; D830;
Find related papers by JEL classification:
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Townsend, Ralph E., 1992. "Bankable individual transferable quotas," Marine Policy, Elsevier, vol. 16(5), pages 345-348, September.
- David Levhari & Leonard J. Mirman, 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 322-334, Spring.
- Ragnar Arnason, 1990. "Minimum Information Management in Fisheries," Canadian Journal of Economics, Canadian Economics Association, vol. 23(3), pages 630-53, August.
- Chen, Wei & Kauffman, Dan & Taylor, Daniel B. & Peterson, Everett B., 2008. "Managing Flounder Openings for Maximum Revenue," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6193, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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