In this paper we use a general model of imperfect competition to predict welfare changes within an open-access fishery after it transitions to individual transferable quota (ITQ) management. Although related research has explored the effects of market power in the harvesting sector on ITQ performance, none has considered the implications of an imperfectly competitive processing sector. Addressing this question, we find that although fishermen should expect to gain from ITQs under perfect competition, they may suffer welfare losses if the processing sector is imperfectly competitive.
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Article provided by University of Wisconsin Press in its journal Land Economics.
Find related papers by JEL classification: Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
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