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Playing Chicken with Salmon

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  • Jon Olaf Olaussen

    ()
    (Department of Economics, Norwegian University of Science and Technology)

Abstract

Wild Atlantic salmon are traditionally harvested from both the sea and spawning rivers during spawning runs. From an economic point of view, the return from sport fishing in rivers is several times higher than marine ‘for meat only’ harvests. This situation calls for a side payment regime where river owners pay marine fishermen not to fish, and where both parties gain. This paper argues that the reason why such side payment regimes are rarely seen, despite the obvious mutual gain, is due to the potential free-riding incentives among river owners. Although it is shown that the decision each river owner faces can be described as a game of chicken, taking the stochastic ecology into account may reveal a different pay-off structure. It is also demonstrated that the stochastic ecology of salmon, combined with price rigidities in the rivers, may explain the lack of side payment regimes.

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Bibliographic Info

Paper provided by Department of Economics, Norwegian University of Science and Technology in its series Working Paper Series with number 7406.

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Length: 36 pages
Date of creation: 29 Aug 2006
Date of revision:
Handle: RePEc:nst:samfok:7406

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Keywords: Atlantic salmon; game of chicken; recreational versus commercial fishing; side payment; stochastic ecology;

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  1. David Kreps & Robert Wilson, 1999. "Reputation and Imperfect Information," Levine's Working Paper Archive 238, David K. Levine.
  2. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, December.
  3. Marita Laukkanen, 2001. "A Bioeconomic Analysis of the Northern Baltic Salmon Fishery: Coexistence versus Exclusion of Competing Sequential Fisheries," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 18(3), pages 293-315, March.
  4. Reed, William J., 1979. "Optimal escapement levels in stochastic and deterministic harvesting models," Journal of Environmental Economics and Management, Elsevier, vol. 6(4), pages 350-363, December.
  5. Jon Olaf Olaussen & Anders Skonhoft, 2005. "The bioeconomics of a wild Atlantic salmon (Salmo salar) recreational fishery," Working Paper Series 6105, Department of Economics, Norwegian University of Science and Technology.
  6. Bjorndal, Trond, 1988. "The optimal management of North Sea Herring," Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 9-29, March.
  7. B. A. Cook & R. L. McGaw, 1996. "Sport and Commercial Fishing Allocations for the Atlantic Salmon Fisheries of the Miramichi River," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 44(2), pages 165-171, 07.
  8. Laukkanen, Marita, 2003. "Cooperative and non-cooperative harvesting in a stochastic sequential fishery," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 454-473, March.
  9. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, vol. 54(3), pages 533-54, May.
  10. 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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