Is the behavior of fishers rational under Individual Transferable Quotas (ITQs) regimes? An Experimental Approach
AbstractMarine resource depletion is a critical concern for humankind. Individual Transferable Quota (ITQ) regimes are among the most effective measures to tackle this problem. Employing an experimental approach, this study examines the rationality of fishers under an ITQ regime. In particular, this study focuses on the case where fishers can change their own vessel scales in the beginning of each period in each experiment. We find that the higher the quota price is, the more irrationally fishers behave. Moreover, vessel scales and initial allocations can influence the rationality of fishers.
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Bibliographic InfoPaper provided by School of Economics, Kwansei Gakuin University in its series Discussion Paper Series with number 73.
Length: 26 pages
Date of creation: Aug 2011
Date of revision: Aug 2011
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Individual Transferable Quotas (ITQs); experiment; rational behavior;
Find related papers by JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-29 (All new papers)
- NEP-CBE-2011-08-29 (Cognitive & Behavioural Economics)
- NEP-ENV-2011-08-29 (Environmental Economics)
- NEP-EXP-2011-08-29 (Experimental 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.:
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