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Moral Hazard Problems in Fisheries Regulation: The Case og Illegal Landings

Author

Listed:
  • Frank Jensen

    () (Institute of Local Government Studies, Denmark)

  • Niels Vestergaard

    () (Department of Environmental and Business Economics, University of Southern Denmark)

Abstract

This paper treats illegal landings as a moral hazard problem that arises, since individual catches are unobservable to society and hence private information. A tax/subsidy mechanism taking into account the asymmetric information problem is formulated as a solution to problems with illegal landings. The incentive scheme uses fish stock size as the tax variable, and can be seen as an alternative to a control policy. Rough estimates from a simulation study suggest that the incentive scheme is potentially useful. The incentive scheme also has potential application as an instrument to the solution of by-catch and discard problems.

Suggested Citation

  • Frank Jensen & Niels Vestergaard, 2000. "Moral Hazard Problems in Fisheries Regulation: The Case og Illegal Landings," Working Papers 9/00, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
  • Handle: RePEc:sdk:wpaper:9
    as

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    File URL: http://www.sdu.dk/~/media/Files/Om_SDU/Institutter/Miljo/ime/wp/Jensen9.ashx
    File Function: First version, 2000-06
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    References listed on IDEAS

    as
    1. Segerson, Kathleen, 1988. "Uncertainty and incentives for nonpoint pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 87-98, March.
    2. Frank Jensen & Niels Vestergaard, 1999. "Regulation of Renewable Resources in Federal Systems: The Case of Fishery in th EU," Working Papers 3/99, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    3. 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.
    4. Boyce, John R., 1996. "An Economic Analysis of the Fisheries Bycatch Problem," Journal of Environmental Economics and Management, Elsevier, vol. 31(3), pages 314-336, November.
    5. Xepapadeas, A. P., 1991. "Environmental policy under imperfect information: Incentives and moral hazard," Journal of Environmental Economics and Management, Elsevier, vol. 20(2), pages 113-126, March.
    6. Carsten Lynge Jensen, 1999. "A Critical Review of the Common Fisheries Policy," Working Papers 6/99, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    7. Clark, Colin W. & Munro, Gordon R., 1975. "The economics of fishing and modern capital theory: A simplified approach," Journal of Environmental Economics and Management, Elsevier, vol. 2(2), pages 92-106, December.
    8. Ragnar Arnason, 1990. "Minimum Information Management in Fisheries," Canadian Journal of Economics, Canadian Economics Association, vol. 23(3), pages 630-653, August.
    9. Milliman, Scott R., 1986. "Optimal fishery management in the presence of illegal activity," Journal of Environmental Economics and Management, Elsevier, vol. 13(4), pages 363-381, December.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Jensen, Frank & Vestergaard, Niels, 2002. "Moral hazard problems in fisheries regulation: the case of illegal landings and discard," Resource and Energy Economics, Elsevier, vol. 24(4), pages 281-299, November.
    2. José Santiago Arroyo Mina, 2012. "Dilemas sociales de la pesca en el pacífico colombiano: un análisis desde la teoría de juegos," REVISTA FACULTAD DE CIENCIAS ECONÓMICAS, UNIVERSIDAD MILITAR NUEVA GRANADA, June.

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