Restoring a Fish Stock: A Dynamic Bankruptcy Problem
AbstractTotal Allowable Catch (TAC)-regulating schemes have been introduced in most fisheries. TAC distribution following the Proportional Rule, based on historical catches, implies that harvesters or vessel groups that have captured more in the past and contributed to overfishing are getting larger quotas than groups that have contributed less to overfishing. In contrast to this rule, a more egalitarian rule, the Constrained Equal Award Rule, is proposed for distributing the TAC. Contingent upon the fishing techniques used by the harvesters, it is demonstrated how the fish-stock recovery period, harvest, and profitability may vary according to these two rules.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 84 (2008)
Issue (Month): 2 ()
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Web page: http://le.uwpress.org/
Other versions of this item:
- Anders Skonhoft & Elena Inarra, 2007. "Restoring a Fish Stock: A Dynamic Bankruptcy Problem," Working Paper Series 8507, Department of Economics, Norwegian University of Science and Technology.
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
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