Net loss: A cost-benefit analysis of the Canadian Pacific salmon fishery
This article applies cost-benefit analysis to the Canadian Pacific commercial salmon fishery. It demonstrates that government policies to preserve the fishery have resulted in higher net social costs than would have resulted from a "do nothing" policy, notwithstanding the rent dissipation associated with unconstrained resource exploitation. The value of landings and the private costs of the harvest over a cycle (1988-1994) are calculated. On average, fishers extracted rents of C$34.7 million (in constant 1995 Canadian dollars) annually. The public costs of enhancing the resource and organizing and policing the harvest are estimated. When these costs are included in the calculation, net benefits drop to an average of negative C$55.6 million annually. This translates into a net present value (NPV) of the salmon fishery of negative C$784. The effects on NPV of both modest policy changes implemented in 1996-1997 and of a more dramatic but credible fleet rationalization program are provided. The results indicate that further policy change is called for. More generally, the study shows that policy reform that would significantly benefit both the private sector (through reduced rent dissipation) and the public sector (through reduced government expenditures) can be surprisingly difficult. © 2000 by the Association for Public Policy Analysis and Management.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 19 (2000)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://www3.interscience.wiley.com/journal/34787/home|
References listed on IDEAS
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.:
- Weingast, Barry R & Shepsle, Kenneth A & Johnsen, Christopher, 1981. "The Political Economy of Benefits and Costs: A Neoclassical Approach to Distributive Politics," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 642-664, August.
- H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124-124.
- Richard C. Bishop, 1973. "Limitation of Entry in the United States Fishing Industry: An Economic Appraisal of a Proposed Policy," Land Economics, University of Wisconsin Press, vol. 49(4), pages 381-390.
- Boardman, Anthony E. & Mallery, Wendy L. & Vining, Aidan R., 1994. "Learning from ex ante/ex post cost-benefit comparisons: the coquihalla highway example," Socio-Economic Planning Sciences, Elsevier, vol. 28(2), pages 69-84.
- Anthony Scott, 1955. "The Fishery: The Objectives of Sole Ownership," Journal of Political Economy, University of Chicago Press, vol. 63, pages 116-116.
- John Mikesell, 1978. "Election periods and state tax policy cycles," Public Choice, Springer, vol. 33(3), pages 99-106, January.
- MacRae, C Duncan, 1977. "A Political Model of the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 85(2), pages 239-263, April.
- Wade, Robert, 1987. "The Management of Common Property Resources: Collective Action as an Alternative to Privatisation or State Regulation," Cambridge Journal of Economics, Oxford University Press, vol. 11(2), pages 95-106, June.
When requesting a correction, please mention this item's handle: RePEc:wly:jpamgt:v:19:y:2000:i:1:p:23-45. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.