A Tale Of Two Clams: Policy Anticipation And Industry Productivity
AbstractSound environmental regulation must achieve environmental objectives while maximizing economic efficiency. This paper evaluates the impact of regulation on efficiency by measuring annual productivity across regulatory regimes in two similar fisheries with differing policy expectations. Anticipation of regulatory change produced strategic behavior in one fishery, leading to depressed productivity; in the other, regulatory change was not expected, and productivity did not suffer. These results imply that fisheries regulation should take into account both firms' policy expectations and the potentially perverse incentives that may be created by policy change.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number 22056.
Date of creation: 2003
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Agricultural and Food Policy; Productivity Analysis;
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