IDEAS home Printed from https://ideas.repec.org/p/isu/genres/33820.html
   My bibliography  Save this paper

Markov-Perfect Rent Dissipation in Rights-Based Fisheries

Author

Listed:
  • Valcu, Adriana
  • Weninger, Quinn

Abstract

We present a general, dynamic model of within-season harvesting competition in a fishery managed with individual transferable quotas. Markov-Perfect equilibrium harvesting and quota purchase strategies are derived using numerical collocation methods. We identify rent loss caused by a heterogeneous-in-value fish stock, congestion on the fishing ground, revenue competition and stock uncertainty. Our results show that biological, technological and market conditions under which rents will be dissipated in a standard individual transferable quota program are fairly special. These fi ndings provide new insights for designing rights-based programs capable of generating resource rent in marine fisheries.

Suggested Citation

  • Valcu, Adriana & Weninger, Quinn, 2013. "Markov-Perfect Rent Dissipation in Rights-Based Fisheries," Staff General Research Papers Archive 33820, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:33820
    as

    Download full text from publisher

    File URL: http://www2.econ.iastate.edu/papers/p13820-2011-05-24.pdf
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Singh, Rajesh & Weninger, Quinn, 2017. "Spatial and seasonal equilibrium harvesting in quota-managed multispecies fisheries," ISU General Staff Papers 201708300700001033, Iowa State University, Department of Economics.

    More about this item

    Keywords

    Markov Perfect Nash equilibrium; individual transferable quotas; production externalities; resource rent.;

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:isu:genres:33820. 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: (Curtis Balmer). General contact details of provider: http://edirc.repec.org/data/deiasus.html .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.