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Public and private management of renewable resources: Who gains, who loses?

Listed author(s):
  • Quaas, Martin F.
  • Stoeven, Max T.

Renewable resources provide society with resource rent and surpluses for resource users (the processing industry, consumers) and owners of production factors (capital and labor employed in resource harvesting). We show that resource users and factor owners may favor inefficiently high harvest rates up to open-access levels. This may explain why public resource management is often very inefficient. We further show that privatizing inefficiently managed resources would cause losses for resource users and factor owners, unless (a) the stock is severely depleted and (b) the discount rate is low. We quantify our results for the Northeast Arctic Cod fishery

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File URL: https://www.econstor.eu/bitstream/10419/88417/1/773881891.pdf
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Paper provided by Christian-Albrechts-University of Kiel, Department of Economics in its series Economics Working Papers with number 2012-02 [rev.].

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Date of creation: 2013
Handle: RePEc:zbw:cauewp:201202r
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