Output Substitution in a Regulated Fishery

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Output Substitution in a Regulated Fishery

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Carsten Lynge Jensen () (Institute of Local Government Studies, Denmark)

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Carsten Lynge Jensen

Abstract

Production condition and behavioural reactions have traditionally been modelled in unregulated industries. The paper examines the impact that output regulation will have in an industry of multiple outputs where production of regulated and unregulated outputs are combined. The industry’s respond to output regulation is critical depending on whether the regulated and unregulated outputs are produced as complements or substitutes in the production process. The elasticity between restricted and unrestricted outputs measure the output transformation in the regulated industry. Applied on a regulated fishery that consists of revenue maximising firms the paper examines how a tightening of the output regulation will affect the exploitation of the unregulated fish resources.

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Publisher Info
Paper provided by University of Southern Denmark, Department of Environmental and Business Economics in its series Working Papers with number 7/00.

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Length: 37 pages
Date of creation: May 2000
Date of revision:
Handle: RePEc:sdk:wpaper:7

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References listed on IDEAS
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Hall, Robert E, 1973. "The Specification of Technology with Several Kinds of Output," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 878-92, July-Aug.. [Downloadable!] (restricted)
Trond Bjørndal & Daniel V. Gordon, 1993. "The Opportunity Cost of Capital and Optimal Vessel Size in the Norwegian Fishing Fleet," Land Economics, University of Wisconsin Press, vol. 69(1), pages 98-107. [Downloadable!] (restricted)
Dale Squires, 1987. "Public Regulation and the Structure of Production in Multiproduct Industries: An Application to the New England Otter Trawl Industry," RAND Journal of Economics, The RAND Corporation, vol. 18(2), pages 232-247, Summer. [Downloadable!] (restricted)
Kirkley, James E & Strand, Ivar E, 1988. "The Technology and Management of Multi-species Fisheries," Applied Economics, Taylor and Francis Journals, vol. 20(10), pages 1279-92, October.
Campbell, H. F. & Nicholl, R. B., 1995. "Allocating Yellowfin Tuna Between the Multispecies Purse Seine and Longline Fleets," Marine Resource Economics, Marine Resources Foundation, vol. 10(1). [Downloadable!]

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