Landing Fees versus Fish Quotas
The relative efficiency of landing fees versus quota controls to achieve given escapement levels is examined. The criterion is profit per year over a given time horizon. The model employed is a discrete version of the logistic model where growth is influenced by a random variable. Simulations are used to compare landing fees and quota controls under imprecise stock estimates, variable availability of fish, and random fish prices. While ecological uncertainty combined with imprecise stock estimates favors fee control, as shown byWeitzman, the opposite can be the case under uncertainty about the availability of fish or fish price.
References listed on IDEAS
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- Martin L. Weitzman, 1974.
"Prices vs. Quantities,"
Review of Economic Studies,
Oxford University Press, vol. 41(4), pages 477-491.
- M. L. Weitzman, 1973. "Prices vs. Quantities," Working papers 106, Massachusetts Institute of Technology (MIT), Department of Economics.
- Neher,Philip A., 1990. "Natural Resource Economics," Cambridge Books, Cambridge University Press, number 9780521311748, December.
- Frank Jensen & Niels Vestergaard, 2003. "Prices versus Quantities in Fisheries Models," Land Economics, University of Wisconsin Press, vol. 79(3), pages 415-425.
- Koenig, Evan F., 1984. "Controlling stock externalities in a common property fishery subject to uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 11(2), pages 124-138, June. Full references (including those not matched with items on IDEAS)