Prices versus Quantities in Fisheries Models
This paper discusses the conditions for generalizing the analysis in Weitzman (1974) to fisheries. It is shown that it is straightforward to generalize the analysis if the cost function is direct additively separable in stock size and catches. This leads to the conclusion that the analysis holds for a schooling fishery with and without search costs, but it might not hold for a search fishery. A further result is that for a schooling fishery without search costs, where the marginal cost function is steeper than the marginal benefit function, taxes are likely to be preferred over individual transferable quotas.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Neher,Philip A., 1990. "Natural Resource Economics," Cambridge Books, Cambridge University Press, number 9780521311748, june. pag.
- Baumol,William J. & Oates,Wallace E., 1988.
"The Theory of Environmental Policy,"
Cambridge University Press, number 9780521311120, june. pag.
- 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.
- Hoel, Michael & Karp, Larry, 2002.
"Taxes versus quotas for a stock pollutant,"
Resource and Energy Economics,
Elsevier, vol. 24(4), pages 367-384, November.
- Hoel, Michael & Karp, Larry, 2001. "Taxes versus Quotas for a Stock Pollutant," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt5fx9p7kf, Department of Agricultural & Resource Economics, UC Berkeley.
- 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.
- 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.
- Theil, Henri, 1977. "The Independent Inputs of Production," Econometrica, Econometric Society, vol. 45(6), pages 1303-27, September.
- Andersen, Peder, 1982. "Commercial fisheries under price uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 9(1), pages 11-28, March.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:79:y:2003:i:3:p:415-425. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.