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In this paper, we consider a market where potential firms, which are allowed to be asymmetric, can freely enter and exit, and the total output would be socially excessive without any regulation. The effects of two alternative regulatory policies in the market: the individually transferable quota...
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penalty for noncompliance. Contrary to theory, individuals voted for the lower inefficient penalty about 80% of the time and …
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In most multi-species fisheries managed through output controls, total allowable catches (TACs) are set primarily on … resource is reduced. In this paper we show that in the case of multi-species fisheries that exhibit jointness in production … estimation of a multi-output distance function for the UK North Sea beam and otter trawl fisheries, and find that in most cases …
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