The triple bottom line: Meeting ecological, economic and social goals with Individual Transferable Quotas
This paper deals with the sustainable management of a renewable resource based on individual and transferable quotas (ITQs) when agents differ in terms of harvesting costs or catching capabilities. In a dynamic bio-economic model, we determine the feasibility conditions under which a fishery manager can achieve sustainability objectives which simultaneously account for stock renewal, economic efficiency and maintenance of fishing activity for the agents along time. We show that the viability of quota management strategies based on fixing Total Allowable Catch (TAC) limits depends on the degree of heterogeneity of users in the fishery, the current status and the dynamics of the stock. In particular for a given stock, we compute the maximin effort for a given set of agents and we derive the maximal number of active agents for a given guaranteed effort. An application to the nephrops fishery in the Bay of Biscay illustrates the results.
|Date of creation:||2011|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +33 (0)220.127.116.11.75
Fax: +33 (0)18.104.22.168.47
Web page: http://gretha.u-bordeaux4.fr/
More information through EDIRC
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.:
- Martinet, V. & Doyen, L., 2007. "Sustainability of an economy with an exhaustible resource: A viable control approach," Resource and Energy Economics, Elsevier, vol. 29(1), pages 17-39, January.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2004.
"Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery,"
Taylor & Francis Journals, vol. 36(15), pages 1631-1641.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003. "Technical Efficiency Effects of Input Controls: Evidence from Australia's Banana Prawn Fishery," Economics and Environment Network Working Papers 0304, Australian National University, Economics and Environment Network.
- Tom Kompas & Tuong Nhu Che & R. Quentin Grafton, 2003. "Technical efficiency effects of input controls: evidence from Australia's banana prawn fishery," International and Development Economics Working Papers idec03-3, International and Development Economics.
- Boyce, John R., 2004. "Instrument choice in a fishery," Journal of Environmental Economics and Management, Elsevier, vol. 47(1), pages 183-206, January.
- Kompas, Tom & Che, Tuong Nhu, 2003.
"Efficiency Gains and Cost Reductions from Individual Transferable Quotas: A Stochastic Cost Frontier for the Australian South East Fishery,"
2003 Conference (47th), February 12-14, 2003, Fremantle, Australia
57907, Australian Agricultural and Resource Economics Society.
- Tom Kompas & Tuong Che, 2005. "Efficiency Gains and Cost Reductions from Individual Transferable Quotas: A Stochastic Cost Frontier for the Australian South East Fishery," Journal of Productivity Analysis, Springer, vol. 23(3), pages 285-307, 07.
- Olivier Guyader, 2002. "Simulating the Effect of Regulatory Systems in a Fishery, An Application to the French Driftnet Albacore Fleet," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(1), pages 1-28, September.
- Squires Dale & Alauddin Mohammad & Kirkley James, 1994. "Individual Transferable Quota Markets and Investment Decisions in the Fixed Gear Sablefish Industry," Journal of Environmental Economics and Management, Elsevier, vol. 27(2), pages 185-204, September.
- Martinet, Vincent & Thebaud, Olivier & Doyen, Luc, 2007. "Defining viable recovery paths toward sustainable fisheries," Ecological Economics, Elsevier, vol. 64(2), pages 411-422, December.
- Luc DOYEN (CNRS - CERSP) & Jean-Christophe PEREAU (GREThA UMR CNRS 5113), 2009.
"Sustainable coalitions in the commons,"
Cahiers du GREThA
2009-15, Groupe de Recherche en Economie Théorique et Appliquée.
- repec:hal:journl:hal-00359860 is not listed on IDEAS
- Kerr, Suzi & Sanchirico, James & Newell, Richard, 2002.
"Fishing Quota Markets,"
dp-02-20, Resources For the Future.
- R. Quentin Grafton & Ragnar Arnason & Trond Bjorndal & David Campbell & Harry F. Campbell & Colin W. Clark & Robin Connor & Diane P. Dupont & Rognvaldur Hannesson & Ray Hilborn & James E. Kirkley & To, 2005.
"Incentive-based approaches to sustainable fisheries,"
Economics and Environment Network Working Papers
0508, Australian National University, Economics and Environment Network.
- Grafton, Quentin R. & Arnason, Ragnar & Bjorndal, Trond & Campbell, David & Campbell, Harry F. & Clark, Colin W. & Connor, Robin & Dupont, Diane P. & Hannesson, Rognvaldur & Hillborn, Ray & Kirkley, J, 2006. "Incentive-Based Approaches to Sustainable Fisheries," Staff General Research Papers 12766, Iowa State University, Department of Economics.
- Baumgärtner, Stefan & Quaas, Martin F., 2009.
"Ecological-economic viability as a criterion of strong sustainability under uncertainty,"
Elsevier, vol. 68(7), pages 2008-2020, May.
- Stefan Baumgärtner & Martin F. Quaas, 2007. "Ecological-economic viability as a criterion of strong sustainability under uncertainty," Working Paper Series in Economics 67, University of Lüneburg, Institute of Economics.
- Heaps, Terry, 2003. "The effects on welfare of the imposition of individual transferable quotas on a heterogeneous fishing fleet," Journal of Environmental Economics and Management, Elsevier, vol. 46(3), pages 557-576, 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.
- Bene, C. & Doyen, L. & Gabay, D., 2001. "A viability analysis for a bio-economic model," Ecological Economics, Elsevier, vol. 36(3), pages 385-396, March.
- Hatcher, Aaron, 2005. "Non-compliance and the quota price in an ITQ fishery," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 427-436, May.
- Grafton, R.Q. & Squires, D. & Fox, K.J., 1998.
"Private Property and Economic Efficiency: A Study of a Common-Pool Resource,"
9804e, University of Ottawa, Department of Economics.
- Grafton, R Quentin & Squires, Dale & Fox, Kevin J, 2000. "Private Property and Economic Efficiency: A Study of a Common-Pool Resource," Journal of Law and Economics, University of Chicago Press, vol. 43(2), pages 679-713, October.
- Martinet, Vincent, 2011. "A characterization of sustainability with indicators," Journal of Environmental Economics and Management, Elsevier, vol. 61(2), pages 183-197, March.
- Guyader, Olivier & Thébaud, Olivier, 2001. "Distributional issues in the operation of rights-based fisheries management systems," Marine Policy, Elsevier, vol. 25(2), pages 103-112, March.
- Pinkerton, Evelyn & Edwards, Danielle N., 2009. "The elephant in the room: The hidden costs of leasing individual transferable fishing quotas," Marine Policy, Elsevier, vol. 33(4), pages 707-713, July.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:grt:wpegrt:2011-01. 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: (Emmanuel Petit)
If references are entirely missing, you can add them using this form.