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From Open-Access to Individual Quotas: Disentangling the Effects of Policy Reform and Environmental Changes in the Norwegian Coastal Cod Fishery

Author

Listed:
  • Diekert , Florian

    () (Dept. of Economics, University of Oslo)

  • Lund , Kristen

    (Dept. of Biosciences)

  • Schweder, Tore

    (Dept. of Economics, University of Oslo)

Abstract

Understanding the e ect of introducing property rights to natural resources is central in economics, but empirical analysis is frustrated by the complexity of socioecological systems. We construct a detailed bio-economic model of the Norwegian coastal cod shery, which was closed after 1989, to isolate the e ect of environmental variability. We project stock and harvest forward in the counterfactual scenario of no intervention, showing that the policy had only a small positive impact on Stock biomass, but a pronounced positive e ect on pro ts. The main driver, uncovered by index-number decomposition, is savings in fuel and labor costs.

Suggested Citation

  • Diekert , Florian & Lund , Kristen & Schweder, Tore, 2014. "From Open-Access to Individual Quotas: Disentangling the Effects of Policy Reform and Environmental Changes in the Norwegian Coastal Cod Fishery," Memorandum 07/2014, Oslo University, Department of Economics.
  • Handle: RePEc:hhs:osloec:2014_007
    as

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    File URL: http://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2014/memo-07-2014.pdf
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    References listed on IDEAS

    as
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    4. 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.
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    More about this item

    Keywords

    Open access; Property rights; Quasi-experiment; Counterfactual control; Bio-economic modeling; Productivity; North-East Arctic cod;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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