IDEAS home Printed from https://ideas.repec.org/a/kap/enreec/v19y2001i4p403-410.html
   My bibliography  Save this article

Fishermen's Discount Rates in ITQ Systems

Author

Listed:
  • Frank Asche

Abstract

In this paper the fishermen's planning and investment horizon is investigated using their discount rates. It is shown that one might calculate the implicit discount rate in an ITQ regulated fishery from the available information from the quota market. This gives information about how well the system is working. In particular, discount rates where ITQ systems are in operation initially were very high, before they started to decrease. This implies that it take some time to reap the full benefits of an ITQ system. It also gives arguments for not letting ITQs be perpetual property rights, and hence, enables more flexibility in the management system. Copyright Kluwer Academic Publishers 2001

Suggested Citation

  • Frank Asche, 2001. "Fishermen's Discount Rates in ITQ Systems," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(4), pages 403-410, August.
    • Handle: RePEc:kap:enreec:v:19:y:2001:i:4:p:403-410
    DOI: 10.1023/A:1011631714874
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1023/A:1011631714874
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1023/A:1011631714874?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Grafton R. Quentin, 1994. "A Note on Uncertainty and Rent Capture in an ITQ Fishery," Journal of Environmental Economics and Management, Elsevier, vol. 27(3), pages 286-294, November.
    2. Homans, Frances R. & Wilen, James E., 1997. "A Model of Regulated Open Access Resource Use," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 1-21, January.
    3. Parzival Copes, 1986. "A Critical Review of the Individual Quota as a Device in Fisheries Management," Land Economics, University of Wisconsin Press, vol. 62(3), pages 278-291.
    4. Clark, Colin W. & Munro, Gordon R., 1975. "The economics of fishing and modern capital theory: A simplified approach," Journal of Environmental Economics and Management, Elsevier, vol. 2(2), pages 92-106, December.
    5. Larry G. Epstein, 1981. "Duality Theory and Functional Forms for Dynamic Factor Demands," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(1), pages 81-95.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Javaid, Aneeque & Janssen, Marco A. & Reuter, Hauke & Schlüter, Achim, 2017. "When Patience Leads to Destruction: The Curious Case of Individual Time Preferences and the Adoption of Destructive Fishing Gears," Ecological Economics, Elsevier, vol. 142(C), pages 91-103.
    2. Jardine, Sunny L. & Sanchirico, James N., 2015. "Fishermen, markets, and population diversity," Journal of Environmental Economics and Management, Elsevier, vol. 74(C), pages 37-54.
    3. Teh, Louise S.L. & Teh, Lydia C.L. & Rashid Sumaila, U., 2014. "Time preference of small-scale fishers in open access and traditionally managed reef fisheries," Marine Policy, Elsevier, vol. 44(C), pages 222-231.
    4. Quynh, Chi Nguyen Thi & Schilizzi, Steven & Hailu, Atakelty & Iftekhar, Sayed, 2018. "Fishers' Preference Heterogeneity and Trade-offs Between Design Options for More Effective Monitoring of Fisheries," Ecological Economics, Elsevier, vol. 151(C), pages 22-33.
    5. Barbara Hutniczak & Niels Vestergaard & Dale Squires, 2019. "Policy Change Anticipation in the Buyback Context," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(1), pages 111-132, May.
    6. Louise Teh & Lydia Teh & U. Sumaila & William Cheung, 2015. "Time Discounting and the Overexploitation of Coral Reefs," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(1), pages 91-114, May.
    7. Asche, Frank & Bjørndal, Marianne Tranberg & Bjørndal, Trond, 2014. "Development in fleet fishing capacity in rights based fisheries," Marine Policy, Elsevier, vol. 44(C), pages 166-171.
    8. Alló, Maria & Loureiro, Maria L., 2018. "The impact of illegal harvesting on time preferences and willingness to participate in shellfish resource management," Resource and Energy Economics, Elsevier, vol. 54(C), pages 226-236.
    9. Louise S. L. Teh & Lydia C. L. Teh & U. Rashid Sumaila, 2011. "Low Discounting Behavior among Small-Scale Fishers in Fiji and Sabah, Malaysia," Sustainability, MDPI, vol. 3(6), pages 1-17, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Colin W. Clark & Gordon R. Munro & U. Rashid Sumaila, 2010. "Limits to the Privatization of Fishery Resources," Land Economics, University of Wisconsin Press, vol. 86(2), pages 209-218.
    2. Matthew N. Reimer & Joshua K. Abbott & James E. Wilen, 2014. "Unraveling the Multiple Margins of Rent Generation from Individual Transferable Quotas," Land Economics, University of Wisconsin Press, vol. 90(3), pages 538-559.
    3. Kvamsdal, Sturla F. & Maroto, José M. & Morán, Manuel & Sandal, Leif K., 2020. "Bioeconomic modeling of seasonal fisheries," European Journal of Operational Research, Elsevier, vol. 281(2), pages 332-340.
    4. Manuel Coelho & José António Filipe & Manuel Alberto M. Ferreira, 2013. "Modelling Enforcement and Compliance in Fisheries: A Survey," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 3(2), pages 464-464.
    5. Louis-Pascal Mahé & Carole Ropars, 2001. "L'exploitation régulée d'une ressource renouvelable : inefficacité d'un rationnement factoriel et efficacité des quotas individuels transférables," Économie et Prévision, Programme National Persée, vol. 148(2), pages 141-156.
    6. Ben White, 2000. "A Review of the Economics of Biological Natural Resources," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(3), pages 419-462, September.
    7. Wilen, James E., 2000. "Renewable Resource Economists and Policy: What Differences Have We Made?," Journal of Environmental Economics and Management, Elsevier, vol. 39(3), pages 306-327, May.
    8. Boyce, John R., 2004. "Instrument choice in a fishery," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 183-206, January.
    9. Lone Grønbæk, 2000. "Fishery Economics and Game Theory," Working Papers 14/00, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    10. Janmaat, Johannus A., 2005. "Sharing clams: tragedy of an incomplete commons," Journal of Environmental Economics and Management, Elsevier, vol. 49(1), pages 26-51, January.
    11. Liu, Jing & Qin, Tianbao, 2018. "A Comparative Analysis of Fishing Rights From a Transaction Cost Perspective," Ecological Economics, Elsevier, vol. 153(C), pages 89-99.
    12. Martinet, Vincent & Thebaud, Olivier & Doyen, Luc, 2007. "Defining viable recovery paths toward sustainable fisheries," Ecological Economics, Elsevier, vol. 64(2), pages 411-422, December.
    13. Stephen Kasperski, 2015. "Optimal Multi-species Harvesting in Ecologically and Economically Interdependent Fisheries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 61(4), pages 517-557, August.
    14. Péreau, J.-C. & Doyen, L. & Little, L.R. & Thébaud, O., 2012. "The triple bottom line: Meeting ecological, economic and social goals with individual transferable quotas," Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 419-434.
    15. Jensen, Frank & Vestergaard, Niels, 2002. "Moral hazard problems in fisheries regulation: the case of illegal landings and discard," Resource and Energy Economics, Elsevier, vol. 24(4), pages 281-299, November.
    16. Clark, Colin W. & Munro, Gordon R. & Sumaila, Ussif Rashid, 2005. "Subsidies, buybacks, and sustainable fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 47-58, July.
    17. Frank Jensen & Niels Vestergaard, 2000. "Moral Hazard Problems in Fisheries Regulation: The Case og Illegal Landings," Working Papers 9/00, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    18. R. Quentin Grafton & Dale Squires & James E. Kirkley, 1996. "Private Property Rights And Crises In World Fisheries: Turning The Tide?," Contemporary Economic Policy, Western Economic Association International, vol. 14(4), pages 90-99, October.
    19. Manuel Coelho & Jos'e Ant'onio Filipe & Manuel Alberto M. Ferreira, 2023. "Sketching a Model on Fisheries Enforcement and Compliance -- A Survey," Papers 2306.16960, arXiv.org.
    20. Eggert, Håkan, 2006. "Fisheries Economics and 20 years with Marine Resource Economics: A Citation Analysis," Working Papers in Economics 203, University of Gothenburg, Department of Economics.

    More about this item

    Keywords

    fisheries management; ITQ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:enreec:v:19:y:2001:i:4:p:403-410. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.