Adjustment Cost and Supply Response in a Fishery: A Dynamic Revenue Function
AbstractIn industries where firms can adjust product mix in response to price changes, the process can be delayed by adjustment costs. An example is fishermen who change fishing grounds to target different species. If adjustment costs are sufficiently large, this may hamper the fishermen’s response so that regulatory tools that are not efficient in the long run are useful in the short run. Moreover, adjustment costs can influence the choice of species targeted. In this paper dynamic supply equations are specified using a revenue function approach. Different hypotheses about the dynamics of the supply equations are tested for Norwegian trawlers.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 85 (2009)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Guttormsen, Atle G. & Roll, Kristin H., 2011. "Technical Efficiency in a Heterogeneous Fishery: The Case of Norwegian Groundfish Fisheries," Marine Resource Economics, Marine Resources Foundation, vol. 26(4).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.