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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.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 86 (2010)
Issue (Month): 2 ()
Pages: 209-218

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Handle: RePEc:uwp:landec:v:86:y:20010:i:2:p:209-218

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Web page: http://le.uwpress.org/

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Cited by:
  1. Grafton, R. Quentin & Kompas, Tom & Chu, Long & Che, Nhu, 2010. "Maximum economic yield," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 54(3), September.
  2. World Bank, 2012. "Pacific Islands - Fisheries sector engagement strategy," World Bank Other Operational Studies 2730, The World Bank.
  3. Hans Frost & Peder Andersen & Ayoe Hoff, 2013. "Management of Complex Fisheries: Lessons Learned from a Simulation Model," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 61(2), pages 283-307, 06.
  4. Ren, Bijie & Polasky, Stephen, 2014. "The optimal management of renewable resources under the risk of potential regime shift," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 40(C), pages 195-212.
  5. Robert Stephen Hawkshaw & Sarah Hawkshaw & U. Rashid Sumaila, 2012. "The Tragedy of the “Tragedy of the Commons”: Why Coining Too Good a Phrase Can Be Dangerous," Sustainability, MDPI, Open Access Journal, vol. 4(11), pages 3141-3150, November.
  6. Sebastian Villasante & David Rodríguez-González & Manel Antelo, 2013. "On the Non-Compliance in the North Sea Cod Stock," Sustainability, MDPI, Open Access Journal, vol. 5(5), pages 1974-1993, May.
  7. Stoeven, Max T. & Quaas, Martin F., 2012. "Privatizing renewable resources: Who gains, who loses?," Economics Working Papers, Christian-Albrechts-University of Kiel, Department of Economics 2012-02, Christian-Albrechts-University of Kiel, Department of Economics.
  8. Lars Gårn Hansen & Frank Jensen & Clifford Russell, 2011. "Instrument Choice when Regulators are Concerned about Resource Extinction," IFRO Working Paper, University of Copenhagen, Department of Food and Resource Economics 2011/6, University of Copenhagen, Department of Food and Resource Economics, revised Jul 2011.

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