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A note on some determinants of property rights in U.S. marine fisheries

Author

Listed:
  • Joel Kincaid

    (Franklin P. Perdue School of Business, Salisbury University)

Abstract

A simple probit model of property rights adoption is estimated for U.S. fisheries managed under the Magnuson Act. The results of the model are consistent with the literature on property rights and transaction costs: Namely, the adoption of private property rights to marine fisheries is shown to hinge on the value of variables which determine, on the one hand, the costs of monitoring and enforcing rights, and on the other hand, the benefits of more clearly defining such rights.

Suggested Citation

  • Joel Kincaid, 2004. "A note on some determinants of property rights in U.S. marine fisheries," Economics Bulletin, AccessEcon, vol. 17(6), pages 1-11.
    • Handle: RePEc:ebl:ecbull:eb-04q20006
    as

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    References listed on IDEAS

    as
    1. Barry C. Field, 1989. "The Evolution of Property Rights," Kyklos, Wiley Blackwell, vol. 42(3), pages 319-345, August.
    2. Lee G. Anderson & Dwight R. Lee, 1986. "Optimal Governing Instrument, Operation Level, and Enforcement in Natural Resource Regulation: The Case of the Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(3), pages 678-690.
    3. Field, Barry C, 1989. "The Evolution of Property Rights," Kyklos, Wiley Blackwell, vol. 42(3), pages 319-345.
    4. Milliman, Scott R., 1986. "Optimal fishery management in the presence of illegal activity," Journal of Environmental Economics and Management, Elsevier, vol. 13(4), pages 363-381, December.
    5. Jon G. Sutinen & Peder Andersen, 1985. "The Economics of Fisheries Law Enforcement," Land Economics, University of Wisconsin Press, vol. 64(4), pages 387-397.
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    More about this item

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • K2 - Law and Economics - - Regulation and Business Law

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