Property Rights in a Fishery: Regulatory Change and Firm Performance
AbstractA new method is introduced and applied to analyse changes in productivity of firms harvesting a natural capital stock. The index-number technique decomposes the contributions of output prices, variable input prices, fixed inputs and productivity to firm profits, adjusted for changes in the natural capital stock. An application of the method is given using micro-level data from a common-pool resource. The indexes provide a ready-made comparison of all firms to the most profitable firm per unit of resource stock. Benchmarking with the decompositions also allows firms and regulators to determine what components are contributing most to economic profits and improve overall industry performance.
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Bibliographic InfoPaper provided by Australian National University, Economics and Environment Network in its series Economics and Environment Network Working Papers with number 0205.
Length: 27 pages
Date of creation: Feb 2002
Date of revision:
Contact details of provider:
Web page: http://een.anu.edu.au/
productivity; profits; natural capital; index numbers;
Other versions of this item:
- Fox, Kevin J. & Grafton, R. Quentin & Kirkley, James & Squires, Dale, 2003. "Property rights in a fishery: regulatory change and firm performance," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 156-177, July.
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
This paper has been announced in the following NEP Reports:
- NEP-AGR-2002-10-27 (Agricultural Economics)
- NEP-ALL-2002-08-19 (All new papers)
- NEP-EFF-2002-10-27 (Efficiency & Productivity)
- NEP-MIC-2002-08-26 (Microeconomics)
- NEP-RES-2002-08-19 (Resource Economics)
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