Frank Jensen () (Institute of Local Government Studies, Denmark) Niels Vestergaard () (Department of Environmental and Business Economics, University of Southern Denmark)
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This paper treats illegal landings as a moral hazard problem that arises, since individual catches are unobservable to society and hence private information. A tax/subsidy mechanism taking into account the asymmetric information problem is formulated as a solution to problems with illegal landings. The incentive scheme uses fish stock size as the tax variable, and can be seen as an alternative to a control policy. Rough estimates from a simulation study suggest that the incentive scheme is potentially useful. The incentive scheme also has potential application as an instrument to the solution of by-catch and discard problems.
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Paper provided by University of Southern Denmark, Department of Environmental and Business Economics in its series Working Papers with number
9/00.
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