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Free Access and the Dynamics of the Fishery

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  • John Hartwick

Abstract

Free entry to a depletable stock can be unstable-- output price can rise faster than costs as harvests fall, entry is encouraged and further harvest and stock declines follow. V. Smith argues that the fishery is stable under free access. We suggest that recent world wide moves to restrict entry are not a result of the fishery being unstable, but are motivated by the desire of exploiters and conservationists to have larger steady state stocks persisting over time.

Suggested Citation

  • John Hartwick, 1979. "Free Access and the Dynamics of the Fishery," Working Paper 332, Economics Department, Queen's University.
    • Handle: RePEc:qed:wpaper:332
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    Cited by:

    1. Julio Peña-Torres & Michael Basch & Sebastian Vergara, "undated". "Downward Adjustments in a Cyclical Environment: The Case of Chilean Pelagic Fisheries," ILADES-UAH Working Papers inv143, Universidad Alberto Hurtado/School of Economics and Business.
    2. Hartwick, John M., 1980. "Optimal Excise Taxes in Exhaustible Resource Exploitation and The Intertemporal Externality in the Dynamic Common Property Renewable Resources Problem," Queen's Institute for Economic Research Discussion Papers 275161, Queen's University - Department of Economics.

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