Instrument choice when regulators are concerned about resource extinction
AbstractIn this paper we undertake a systematic investigation of instrument choice when preventing a population collapse rather than maximizing industry profit is the overriding concern. Contrary to what seems to be the general consensus we find that landing fees do provide more effective insurance against extinction than quotas under more or less the same conditions as those implying that landing fees are better at maximizing industry profit. Thus, the efficiency of the regulatory instrument mainly depends on the basic information asymmetries characterizing the fishery, and is not sensitive to whether the regulators total catch goals are set according to economic or precautionary principles.
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Bibliographic InfoArticle provided by Elsevier in its journal Resource and Energy Economics.
Volume (Year): 35 (2013)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/inca/505569
Prices versus quantities; Resource extinction;
Other versions of this item:
- Lars Gårn Hansen & Frank Jensen & Clifford Russell, 2011. "Instrument Choice when Regulators are Concerned about Resource Extinction," IFRO Working Paper 2011/6, University of Copenhagen, Department of Food and Resource Economics, revised Jul 2011.
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
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