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Reforming resource rent policy: an information economics perspective

Author

Listed:
  • Stoneham, Gary
  • Lansdell, Nicola
  • Cole, Anne
  • Strappazzon, Loris

Abstract

Efficient management of natural resources requires that the least cost fishers operate in a fishery. Information economics tells us that firms have information about their costs that governments cannot readily acquire, and that we need to ensure this information is revealed in order to allocate access efficiently. Auctions can achieve this, and simultaneously collect resource rent to give industry ongoing efficiency motivation. This paper highlights the relevance of information economics in fishery management, and identifies some specific auction design issues relevant to allocating new aquaculture sites.

Suggested Citation

  • Stoneham, Gary & Lansdell, Nicola & Cole, Anne & Strappazzon, Loris, 2005. "Reforming resource rent policy: an information economics perspective," Marine Policy, Elsevier, vol. 29(4), pages 331-338, July.
    • Handle: RePEc:eee:marpol:v:29:y:2005:i:4:p:331-338
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    Cited by:

    1. Iftekhar, Md Sayed & Tisdell, John G., 2015. "Bidding and performance in multiple unit combinatorial fishery quota auctions: Role of information feedbacks," Marine Policy, Elsevier, vol. 62(C), pages 233-243.
    2. Drechsler, Martin & Wätzold, Frank & Johst, Karin & Shogren, Jason F., 2010. "An agglomeration payment for cost-effective biodiversity conservation in spatially structured landscapes," Resource and Energy Economics, Elsevier, vol. 32(2), pages 261-275, April.

    More about this item

    Keywords

    Aquaculture Auctions Resource rent;

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