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Efficiency aspects of fishery management: The case of the North Sea

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  • Kim, Chungsoo
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    Abstract

    In the case of fisheries, the lack of an efficient property rights structure (uniform, exclusive, and transferable property rights) is widely recognized as the prime impediment to higher profitability of the fishing industry and to the prevention of over-exploitation. This study uses an empirical model for measuring the economic efficiency implications of the competitive exploitation of a commonly shared fishery. While lack of data prevents the empirical application of theoretical state-of-the-art fishery models, the specification of the model used here does not prevent an analysis of the central efficiency question. Within a 'surplus-production' model of the North Sea fishery, economically optimal levels of fishing effort, cost, revenue, and rent are estimated. These are compared with activity levels that are considered optimal in the biological sense. The paper begins with a review of the optimality conditions. Section II presents an empirical model, whose application to the multi-species North Sea fishery is discussed in Section III. Section IV presents empirical results.

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    File URL: http://econstor.eu/bitstream/10419/47212/1/015030679.pdf
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    Bibliographic Info

    Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 128.

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    Date of creation: 1981
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    Handle: RePEc:kie:kieliw:128

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    1. Bell, Frederick W, 1972. "Technological Externalities and Common-Property Resources: An Empirical Study of the U. S. Northern Lobster Fishery," Journal of Political Economy, University of Chicago Press, vol. 80(1), pages 148-58, Jan.-Feb..
    2. 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.
    3. Peterson, Frederick M & Fisher, Anthony C, 1977. "The Exploitation of Extractive Resources: A Survey," Economic Journal, Royal Economic Society, vol. 87(348), pages 681-721, December.
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    Cited by:
    1. Gupta, Sanjeev, 1982. "Causal relationship between domestic credit and international reserves: The experience of developing countries," Kiel Working Papers 139, Kiel Institute for the World Economy.
    2. Dicke, Hugo & Foders, Federico, 1985. "Die Bedeutung internationaler Organisationen für die Nutzung von Ressourcen im Gemeineigentum: das Beispiel des Fischbestandes der Meere," Kiel Working Papers 222, Kiel Institute for the World Economy.

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