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Neo-classical economics, institutional economics and improved fisheries management

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  • van der Burg, Tsjalle

Abstract

According to neo-classical economists, taxes and individual transferable quotas (ITQs) are the most efficient measures for dealing with the problem of overfishing. Institutional economists, however, criticise neo-classical economists for neglecting political problems, enforcement problems and transaction costs. In relation to this, they argue that taxes and ITQs have serious weaknesses as well. Taking account of both neo-classical and institutional arguments, a new management system is proposed. The system is as efficient in the neo-classical sense as taxes and ITQs, but it also has certain advantages in view of institutional aspects.

Suggested Citation

  • van der Burg, Tsjalle, 2000. "Neo-classical economics, institutional economics and improved fisheries management," Marine Policy, Elsevier, vol. 24(1), pages 45-51, January.
    • Handle: RePEc:eee:marpol:v:24:y:2000:i:1:p:45-51
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    Cited by:

    1. Yung Yau & Wai Kin Lau, 2018. "Big Data Approach as an Institutional Innovation to Tackle Hong Kong’s Illegal Subdivided Unit Problem," Sustainability, MDPI, vol. 10(8), pages 1-17, August.

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