Buyback programs in commercial fisheries:efficiency versus transfers
AbstractA Cournot model of investment is used to characterize the pre- and post-buyback investment equilibrium for vessels operating in a total-allowable-catch-regulated fishery. Welfare effects - the net welfare gains or losses and the distributional effects - that may be expected from vessel buyback programs are identified. Net welfare effects depend on the ability of remaining vessels to replace buyback capital, the speed of capital replacement, and capital investment irreversibility. Net welfare effects are likely to be positive only under exceptional technological and capital-market conditions. A brief review of the British Columbia Pacific Salmon Revitalization Plan is presented to anchor the theoretical model.
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Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 33 (2000)
Issue (Month): 2 (May)
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Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
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Other versions of this item:
- Weninger, Quinn & McConnell, K. E., 2000. "Buyback Programs in Commercial Fisheries: Efficiency Versus Transfers," Staff General Research Papers 1834, Iowa State University, Department of Economics.
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
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