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Resource Rent in Individual Quota Fisheries

  • Frank Asche
  • Trond Bjørndal
  • Daniel V. Gordon

Traditional fisheries management schemes generate incentives for vessels to maximize catch, resulting in rent dissipation and overcapacity. Individual vessel quota management schemes change the incentives to maximize profit and have the potential to generate resource rent and reduce capacity. An interesting question is whether it is the changed incentives due to individual quota or the capacity reduction due to transferability of individual quota that is most important in generating rent. In this study, a cost function approach is used to model and measure rent generated and potential rent in a fishery managed with individual vessel quotas.

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File URL: http://le.uwpress.org/cgi/reprint/85/2/279
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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 85 (2009)
Issue (Month): 2 ()
Pages: 279-291

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Handle: RePEc:uwp:landec:v:85:y:2009:i:2:p:279-291
Contact details of provider: Web page: http://le.uwpress.org/

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  1. Kjell Salvanes & Dale Squires, 1995. "Transferable quotas, enforcement costs and typical firms: An empirical application to the Norwegian trawler fleet," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(1), pages 1-21, July.
  2. Trond Bjørndal & Daniel V. Gordon, 1993. "The Opportunity Cost of Capital and Optimal Vessel Size in the Norwegian Fishing Fleet," Land Economics, University of Wisconsin Press, vol. 69(1), pages 98-107.
  3. Weninger, Quinn, 1998. "Assessing Efficiency Gains From Individual Transferable Quotas: An Application to the Mid-Atlantic Surf Clam and Ocean Quahog Fishery," Staff General Research Papers 5065, Iowa State University, Department of Economics.
  4. Dale Squires, 1987. "Public Regulation and the Structure of Production in Multiproduct Industries: An Application to the New England Otter Trawl Industry," RAND Journal of Economics, The RAND Corporation, vol. 18(2), pages 232-247, Summer.
  5. Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February.
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