Ragnar Arnason (contributor) - 2007
target and (c) inefficient use of enforcement effort and (d) a loss in economic
benefits from the fishery. The amount of … the fishery compared to the non-stochastic case. This is as expected.
Uncertainty is generally economically costly … Natural Resource Regulation: The Case of the Fishery. American
Journal of Agricultural Economics 68: 678-690.
Arnason, R …