This empirical study examines welfare gains and losses that would result from alternative fishery management regimes. In an application to the North Sea demersal fisheries, the study shows that these fishery resources can give rise to large economic rent. Under an optimal management regime, the...

The ongoing process of European integration is likely to increase trade and factor mobility thereby increasing interregional competition and affecting the interregional division of labor. From a theoretical standpoint, rising specialization and polarization of European regions may result from...