A detailed and comprehensive set of catch and effort data for the cod fisheries of 18 Norwegian bottom trawlers have been obtained for the period 1971–85, a period with few binding quota restrictions on vessel operations. Harvest functions have been designed and estimated. The independent...

This paper tests empirically to what extent the rent in a limited entry and quota managed fishery is capitalized in the value of a vessel license. This is done by comparing the profitability of Norwegian purse seine vessels which received their licenses for free, to the profitability of vessels...