Frank Jensen () (Institute of Local Government Studies, Denmark) Niels Vestergaard () (Department of Environmental and Business Economics, University of Southern Denmark)
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Within fisheries it is well-known that several market failures exist. However, fisheries economists analyse these market failures separately despite the fact that the market failures arise simultaneously. In this paper several market fail-ures that arise simultaneously are analysed. A resource stock tax and a tax on self-reported harvest are considered as a solution to problems associated with the stock externality, measuring individual catches and stock uncertainty. Within a fisheries economic model it is shown that it will be in the interest of risk-averse fishermen to report a part of their catch even without a control pol-icy. In addition, it is shown that this tax structure can secure optimal expected individual catches and simulations show that the tax payment is very low. Thus, the tax system may be useful in practical fisheries management.
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Paper provided by University of Southern Denmark, Department of Environmental and Business Economics in its series Working Papers with number
54/04.
Find related papers by JEL classification: Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
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