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Property rights in a fishery: regulatory change and firm performance

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  • Fox, Kevin J.
  • Grafton, R. Quentin
  • Kirkley, James
  • Squires, Dale

Abstract

A new method is introduced and applied to analyse changes in productivity of firms harvesting a natural capital stock. The index-number technique decomposes the contributions of output prices, variable input prices, fixed inputs and productivity to firm profits, adjusted for changes in the natural capital stock. An application of the method is given using micro-level data from a common-pool resource. The indexes provide a ready-made comparison of all firms to the most profitable firm per unit of resource stock. Benchmarking with the decompositions also allows firms and regulators to determine what components are contributing most to economic profits and improve overall industry performance.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 46 (2003)
Issue (Month): 1 (July)
Pages: 156-177

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Handle: RePEc:eee:jeeman:v:46:y:2003:i:1:p:156-177

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Web page: http://www.elsevier.com/locate/inca/622870

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Citations

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Cited by:
  1. Gary D. Libecap, 2014. "Addressing Global Environmental Externalities: Transaction Costs Considerations," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 52(2), pages 424-79, June.
  2. Homans, Frances R. & Wilen, James E., 2005. "Markets and rent dissipation in regulated open access fisheries," Journal of Environmental Economics and Management, Elsevier, Elsevier, vol. 49(2), pages 381-404, March.
  3. Diekert , Florian & Lund , Kristen & Schweder, Tore, 2014. "From Open-Access to Individual Quotas: Disentangling the Effects of Policy Reform and Environmental Changes in the Norwegian Coastal Cod Fishery," Memorandum, Oslo University, Department of Economics 07/2014, Oslo University, Department of Economics.
  4. Hannesson, Rognvaldur, 2007. "Growth accounting in a fishery," Journal of Environmental Economics and Management, Elsevier, Elsevier, vol. 53(3), pages 364-376, May.
  5. Vieria, Simon, 2011. "An index number decomposition of profit change in two Australian fishing sectors," 2011 Conference (55th), February 8-11, 2011, Melbourne, Australia, Australian Agricultural and Resource Economics Society 100728, Australian Agricultural and Resource Economics Society.
  6. Fox, Kevin J. & Grafton, R. Quentin & Kompas, Tom & Che, Tuong Nhu, 2006. "Capacity reduction, quota trading and productivity: the case of a fishery," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 50(2), June.
  7. Alexandros Maziotis & David S. Saal & Emmanuel Thanassoulis, 2012. "Profit, Productivity and Price Performance Changes in The English and Welsh Water and Sewerage Companies," Working Papers, Fondazione Eni Enrico Mattei 2012.84, Fondazione Eni Enrico Mattei.
  8. Khademvatani, Asgar & Gordon, Daniel V., 2013. "A marginal measure of energy efficiency: The shadow value," Energy Economics, Elsevier, Elsevier, vol. 38(C), pages 153-159.
  9. R. Quentin Grafton & Ragnar Arnason & Trond Bjorndal & David Campbell & Harry F. Campbell & Colin W. Clark & Robin Connor & Diane P. Dupont & Rognvaldur Hannesson & Ray Hilborn & James E. Kirkley & To, 2005. "Incentive-based approaches to sustainable fisheries (now replaced by EEN0508)," Economics and Environment Network Working Papers, Australian National University, Economics and Environment Network 0501, Australian National University, Economics and Environment Network.
  10. Kevin J. Fox & R. Quentin Grafton & Tom Kompas & Tuong Nhu Che, 2003. "Productivity and capacity reduction: the case of a fishery," International and Development Economics Working Papers, International and Development Economics idec03-2, International and Development Economics.
  11. W. Diewert & Kevin Fox, 2010. "Malmquist and Törnqvist productivity indexes: returns to scale and technical progress with imperfect competition," Journal of Economics, Springer, Springer, vol. 101(1), pages 73-95, September.
  12. Grafton, R. Quentin & Akter, Sonia & Kompas, Tom, 2009. "Guide to the Ex-Ante Socio-Economic Evaluation of Marine Protected Areas," Research Reports, Australian National University, Environmental Economics Research Hub 94827, Australian National University, Environmental Economics Research Hub.
  13. Kevin J. Fox & R. Quentin Grafton & Tom Kompas & Tuong Nhu Che, 2003. "Capacity Reduction and Productivity: The Case of Fishery," Economics and Environment Network Working Papers, Australian National University, Economics and Environment Network 0303, Australian National University, Economics and Environment Network.
  14. Skirtun, Maggie, 2013. "Decomposing the drivers of profibility in two key Commonwealth prawn fisheries," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia, Australian Agricultural and Resource Economics Society 152179, Australian Agricultural and Resource Economics Society.
  15. R. Quentin Grafton & Harry W. Nelson & Bruce Turris, 2005. "How to Resolve the Class II Common Property Problem? The Case of British Columbia's Multi-Species Groundfish Traw," Economics and Environment Network Working Papers, Australian National University, Economics and Environment Network 0506, Australian National University, Economics and Environment Network.
  16. Kvamsdal, Sturla F., 2012. "Technological Change in Renewable Resource Industries: An Alternative Estimation Approach," Discussion Papers, Department of Business and Management Science, Norwegian School of Economics 2012/14, Department of Business and Management Science, Norwegian School of Economics.
  17. Tran, Thi Bich & Grafton, Quentin & Kompas, Tom, 2009. "Contribution of productivity and firm size to value-added: Evidence from Vietnam," International Journal of Production Economics, Elsevier, Elsevier, vol. 121(1), pages 274-285, September.
  18. Gary D. Libecap, 2013. "Addressing Global Environmental Externalities: Transaction Costs Considerations," NBER Working Papers 19501, National Bureau of Economic Research, Inc.

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