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Limits to the Privatization of Fishery Resources

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  • Colin W. Clark
  • Gordon R. Munro
  • U. Rashid Sumaila

Abstract

A debate is emerging over the extent to which privatization of fishery resources is socially desirable. The "pessimists" argue that there are strict limits to socially optimal privatization of such resources. The "optimists" maintain that there are no effective limits to privatization and that the decades old fear that privatization could, in some cases, lead to resource extinction are of theoretical interest only. We argue here that these fears are, regrettably, not baseless and that there are definite limits to socially desirable privatization. We discuss means by which such limits could be identified on a fisherybyfishery basis.

Suggested Citation

  • Colin W. Clark & Gordon R. Munro & U. Rashid Sumaila, 2010. "Limits to the Privatization of Fishery Resources," Land Economics, University of Wisconsin Press, vol. 86(2), pages 209-218.
    • Handle: RePEc:uwp:landec:v:86:y:20010:i:2:p:209-218
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    References listed on IDEAS

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    6. Stoeven, Max T. & Quaas, Martin F., 2012. "Privatizing renewable resources: Who gains, who loses?," Economics Working Papers 2012-02, Christian-Albrechts-University of Kiel, Department of Economics.
    7. Tahvonen, Olli & Quaas, Martin F. & Voss, Rüdiger, 2018. "Harvesting selectivity and stochastic recruitment in economic models of age-structured fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 659-676.
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    14. Lars Ravensbeck & Ayoe Hoff & Hans Frost, 2016. "Implications for fisheries management by inclusion of marine ecosystem services," IFRO Working Paper 2016/12, University of Copenhagen, Department of Food and Resource Economics.
    15. Martin F. Quaas & Ralph Winkler, 2017. "A Market Mechanism for Sustainable and Efficient Resource Use under Uncertainty," CESifo Working Paper Series 6524, CESifo.
    16. World Bank, 2012. "Pacific Islands - Fisheries sector engagement strategy," World Bank Publications - Reports 2730, The World Bank Group.
    17. Jules Selles, 2018. "Fisheries management: what uncertainties matter?," Working Papers hal-01824238, HAL.
    18. Manuel Pacheco Coelho & José António Filipe & Manuel Alberto M. Ferreira, 2011. "Rights to Fish and Rights to Manage: A Note on the Portuguese Fisheries Case," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 1(2), pages 1-87.
    19. Terry L. Anderson & Ragnar Arnason & Gary D. Libecap, 2010. "Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management," NBER Working Papers 16519, National Bureau of Economic Research, Inc.
    20. Hansen, Lars Gårn & Jensen, Frank & Russell, Clifford, 2013. "Instrument choice when regulators are concerned about resource extinction," Resource and Energy Economics, Elsevier, vol. 35(2), pages 135-147.
    21. Manuel Coelho & Jose Antonio Filipe & Manuel Alberto M. Ferreira & Rui Junqueira Lopes, 2013. "Extinction Revisited: “Allee Effect” and Irreversibility in “Schooling” Fisheries," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 3(1), pages 405-405.
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    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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