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Virtual Population Units: A New Institutional Approach to Fisheries Management

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  • Lee, Jung-Sam
  • Gates, John M.
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    Abstract

    This 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, “sole-owner,†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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    File URL: http://purl.umn.edu/6220
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    Bibliographic Info

    Article provided by Marine Resources Foundation in its journal Marine Resource Economics.

    Volume (Year): 22 (2007)
    Issue (Month): 1 ()
    Pages:

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    Handle: RePEc:ags:mareec:6220

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    Web page: http://www.uri.edu/cels/enre/mre/mre.htm

    Related research

    Keywords: Virtual populations; virtual population units; ITQs; marginal valuation; Resource /Energy Economics and Policy; Q220; Q590; C720; D830;

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    References

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    1. Townsend, Ralph E., 1992. "Bankable individual transferable quotas," Marine Policy, Elsevier, vol. 16(5), pages 345-348, September.
    2. 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.
    3. Ragnar Arnason, 1990. "Minimum Information Management in Fisheries," Canadian Journal of Economics, Canadian Economics Association, vol. 23(3), pages 630-53, August.
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    Cited by:
    1. 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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