Uncertainty and the choice of quota program in a multi-product fishery
This paper considers the design of individual quota programs for fisheries where more than one market class of fish is harvested and where a manager is uncertain about the fishing technology, prices, stock levels, and compliance. In particular, the paper considers three problems that follow from a manager's uncertainty and the multi-product nature of the fishery; discarding, ex ante uncertainty, and data fouling. Since multi-product fisheries and uncertainty are the norm, the issues addressed here are fundamental to fisheries regulation.
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- Johnson, Ronald N & Libecap, Gary D, 1982. "Contracting Problems and Regulation: The Case of the Fishery," American Economic Review, American Economic Association, vol. 72(5), pages 1005-1022, December.
- Matthew A. Turner, 1998. "Optimal quota programs," Working Papers mturner-98-01, University of Toronto, Department of Economics.
- Weitzman, Martin L, 1978. "Optimal Rewards for Economic Regulation," American Economic Review, American Economic Association, vol. 68(4), pages 683-691, September.
- Matthew A. Turner, 1995. "Value-based ITQ's," Working Papers mturner-95-03, University of Toronto, Department of Economics.
- Turner, Matthew A., 1997. "Quota-Induced Discarding in Heterogeneous Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 186-195, June.
- Roberts, Marc J. & Spence, Michael, 1976. "Effluent charges and licenses under uncertainty," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 193-208.
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