Jens Warming (1931) on Open Access, Pigovian Tax, and Property Rights
AbstractThis article summarizes the contribution in fisheries economics by the Danish economist Jens Warming and gives a translation of his article “Aalegaardsretten” (The Danish Right to Eel Weir, 1931). Warming, provides an early reference on the problem of open access, precedes Arthur Pigou in suggesting an optimal tax as a correction measure, which I refer to as a Warming landing tax in fisheries, and explains how property rights in fisheries will lead to maximized resource rent and prevent overfishing. What is missing in Warming’s description of the problem is the dynamic aspect and that the economics of natural resources should be analyzed in a capital theoretic framework, which was later established by Anthony Scott (1955a; 1955b).
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Bibliographic InfoPaper provided by University of Gothenburg, Department of Economics in its series Working Papers in Economics with number 401.
Length: 34 pages
Date of creation: 01 Dec 2009
Date of revision:
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Postal: Department of Economics, School of Business, Economics and Law, University of Gothenburg, Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
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Common pool resource management; fisheries; optimal tax; Pigou tax; property rights;
Find related papers by JEL classification:
- B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-12-11 (All new papers)
- NEP-ENV-2009-12-11 (Environmental Economics)
- NEP-PUB-2009-12-11 (Public Finance)
- NEP-RES-2009-12-11 (Resource Economics)
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.:
- Demsetz, Harold, 1996. "The core disagreement between Pigou, the profession, and Coase in the analyses of the externality question," European Journal of Political Economy, Elsevier, vol. 12(4), pages 565-579, December.
- H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124.
- 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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