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The triple bottom line: Meeting ecological, economic and social goals with individual transferable quotas

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Author Info

  • Péreau, J.-C.
  • Doyen, L.
  • Little, L.R.
  • Thébaud, O.

Abstract

This paper deals with the sustainable management of a renewable resource based on individual and transferable quotas (ITQs) when agents differ in terms of harvesting costs or catch capability. In a dynamic bio-economic model, we determine the feasibility conditions under which a fishery manager can achieve sustainability objectives which simultaneously account for stock conservation, economic efficiency and maintenance of fishing activity for the agents along time. We show how the viability of quota management strategies based on ITQ depends on the degree of heterogeneity of users in the fishery, the current status and the dynamics of the stock together with the selection of TAC schedules. In particular for a given stock, we compute the maximin effort for a given set of agents and we derive the maximal number of active agents for a given guaranteed effort. An application to the nephrops fishery in the Bay of Biscay illustrates the results.

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Bibliographic Info

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

Volume (Year): 63 (2012)
Issue (Month): 3 ()
Pages: 419-434

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Handle: RePEc:eee:jeeman:v:63:y:2012:i:3:p:419-434

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

Related research

Keywords: Renewable resource; Sustainability; Total allowable catch; Individual and transferable quotas; Maximin; Feasibility set;

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References

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  1. Newell, Richard G. & Sanchirico, James N. & Kerr, Suzi, 2005. "Fishing quota markets," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 437-462, May.
  2. Heaps, Terry, 2003. "The effects on welfare of the imposition of individual transferable quotas on a heterogeneous fishing fleet," Journal of Environmental Economics and Management, Elsevier, vol. 46(3), pages 557-576, November.
  3. Martinet, Vincent & Thebaud, Olivier & Doyen, Luc, 2007. "Defining viable recovery paths toward sustainable fisheries," Ecological Economics, Elsevier, vol. 64(2), pages 411-422, December.
  4. Luc DOYEN (CNRS - CERSP) & Jean-Christophe PEREAU (GREThA UMR CNRS 5113), 2009. "Sustainable coalitions in the commons," Cahiers du GREThA 2009-15, Groupe de Recherche en Economie Théorique et Appliquée.
  5. Baumgärtner, Stefan & Quaas, Martin F., 2009. "Ecological-economic viability as a criterion of strong sustainability under uncertainty," Ecological Economics, Elsevier, vol. 68(7), pages 2008-2020, May.
  6. Squires Dale & Alauddin Mohammad & Kirkley James, 1994. "Individual Transferable Quota Markets and Investment Decisions in the Fixed Gear Sablefish Industry," Journal of Environmental Economics and Management, Elsevier, vol. 27(2), pages 185-204, September.
  7. Parzival Copes, 1986. "A Critical Review of the Individual Quota as a Device in Fisheries Management," Land Economics, University of Wisconsin Press, vol. 62(3), pages 278-291.
  8. Boyce, John R., 2004. "Instrument choice in a fishery," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 183-206, January.
  9. Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003. "Technical Efficiency Effects of Input Controls: Evidence from Australia's Banana Prawn Fishery," Economics and Environment Network Working Papers 0304, Australian National University, Economics and Environment Network.
  10. Kompas, Tom & Che, Tuong Nhu, 2003. "Efficiency Gains and Cost Reductions from Individual Transferable Quotas: A Stochastic Cost Frontier for the Australian South East Fishery," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57907, Australian Agricultural and Resource Economics Society.
  11. Grafton, R.Q. & Squires, D. & Fox, K.J., 1998. "Private Property and Economic Efficiency: A Study of a Common-Pool Resource," Working Papers 9804e, University of Ottawa, Department of Economics.
  12. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
  13. Olivier Guyader, 2002. "Simulating the Effect of Regulatory Systems in a Fishery, An Application to the French Driftnet Albacore Fleet," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(1), pages 1-28, September.
  14. Grafton, Quentin R. & Arnason, Ragnar & Bjorndal, Trond & Campbell, David & Campbell, Harry F. & Clark, Colin W. & Connor, Robin & Dupont, Diane P. & Hannesson, Rognvaldur & Hillborn, Ray & Kirkley, J, 2006. "Incentive-Based Approaches to Sustainable Fisheries," Staff General Research Papers 12766, Iowa State University, Department of Economics.
  15. Guyader, Olivier & Thébaud, Olivier, 2001. "Distributional issues in the operation of rights-based fisheries management systems," Marine Policy, Elsevier, vol. 25(2), pages 103-112, March.
  16. Pinkerton, Evelyn & Edwards, Danielle N., 2009. "The elephant in the room: The hidden costs of leasing individual transferable fishing quotas," Marine Policy, Elsevier, vol. 33(4), pages 707-713, July.
  17. Martinet, Vincent, 2011. "A characterization of sustainability with indicators," Journal of Environmental Economics and Management, Elsevier, vol. 61(2), pages 183-197, March.
  18. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
  19. Hatcher, Aaron, 2005. "Non-compliance and the quota price in an ITQ fishery," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 427-436, May.
  20. Bene, C. & Doyen, L. & Gabay, D., 2001. "A viability analysis for a bio-economic model," Ecological Economics, Elsevier, vol. 36(3), pages 385-396, March.
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Citations

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Cited by:
  1. L. Doyen & A. Cissé & S. Gourguet & L. Mouysset & P.-Y. Hardy & C. Béné & F. Blanchard & F. Jiguet & J.-C. Pereau & O. Thébaud, 2013. "Ecological-economic modelling for the sustainable management of biodiversity," Computational Management Science, Springer, vol. 10(4), pages 353-364, December.
  2. Vincent Martinet & Luc Doyen, 2012. "Maximin, Viability and Sustainability," Working Papers 163401, Institut National de la Recherche Agronomique, France.
  3. A.A. Cisse & L. Doyen & F. Blanchard & J.C. Pereau, 2013. "Stochastic viability of the coastal fishery in French Guiana," Documents de Travail 2013-07, CEREGMIA, Université des Antilles et de la Guyane.

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