Instrument Choice when Regulators are Concerned about Resource Extinction
AbstractIn this paper we undertake a systematic investigation of instrument choice when preventing a population collapse rather than maximizing industry profit is the overriding concern. Contrary to what seems to be the general consensus we find that landing fees do provide more effective insurance against extinction than quotas under more or less the same conditions as those implying that landing fees are better at maximising industry profit. Thus, the efficiency of the regulatory instrument mainly depends on the basic information asymmetries characterizing the fishery, and is not sensitive to whether the regulators total catch goals are set according to economic or precautionary principles.
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Bibliographic InfoPaper provided by University of Copenhagen, Department of Food and Resource Economics in its series IFRO Working Paper with number 2011/6.
Length: 29 pages
Date of creation: Feb 2011
Date of revision: Jul 2011
Other versions of this item:
- 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.
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fischer, Carolyn & Laxminarayan, Ramanan, 2010. "Managing partially protected resources under uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 59(2), pages 129-141, March.
- Lars Gårn Hansen, 2008. "Prices versus Quantities in Fisheries Models: Comment," Land Economics, University of Wisconsin Press, vol. 84(4), pages 708-711.
- Lars G. Hansen & Frank Jensen & Clifford Russell, 2008. "The Choice of Regulatory Instrument When There Is Uncertainty About Compliance with Fisheries Regulations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(4), pages 1130-1142.
- 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.
- Frank Jensen & Niels Vestergaard, 2003. "Prices versus Quantities in Fisheries Models," Land Economics, University of Wisconsin Press, vol. 79(3), pages 415-425.
- Weitzman, Martin L., 2002. "Landing Fees vs Harvest Quotas with Uncertain Fish Stocks," Journal of Environmental Economics and Management, Elsevier, vol. 43(2), pages 325-338, March.
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