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determine the harvest that maximizes the value of a fishery participating in a global market, where all the considered … demand shock and the aggregate harvesting of all zones. Accordingly, a fishery's harvest will be affected by the global … global framework with an alternative where the individual zones are aggregated into a single optimizing fishery we find that …
Persistent link: https://www.econbiz.de/10012510611
the self-selection of heterogeneous fishermen into sectors. The fishery management regime assigns one portion of an … independently. Data from an Alaska commercial salmon fishery confirm our model's key predictions, that the co-op would facilitate … the co-op's demise, an outcome also predicted by our model. Our analysis provides guidance for designing fishery reform …
Persistent link: https://www.econbiz.de/10012462317
We study how the strength of property rights to individual extractive firms affects a regulator's choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in...
Persistent link: https://www.econbiz.de/10012457807
Credit markets and property rights are fundamental for modern economies, but they also have implications for the commons. Using a dynamic model of competitive resource extraction, we show that improving property right security unambiguously increases conservation incentives, but the effect of...
Persistent link: https://www.econbiz.de/10013172188
We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not...
Persistent link: https://www.econbiz.de/10012462138
Orcinus Orca is the world's largest predator, and simultaneously a significant tourist asset and cultural icon for much of the Pacific Northwest. In the past two decades, the Southern Resident Killer whales (SRKW) have declined by more than 25 percent, and this population appears on a...
Persistent link: https://www.econbiz.de/10012599304
the British Columbia halibut fishery, the required parameters are estimated and the model solved. The results indicate …
Persistent link: https://www.econbiz.de/10012480792
The problem of the commons is more important to our lives and thus more central to economics than a century ago when Katharine Coman led off the first issue of the American Economic Review. As the U.S. and other economies have grown, the carrying-capacity of the planet -- in regard to natural...
Persistent link: https://www.econbiz.de/10012462253
traditional approach to evaluate debt sustainability, and examine three alternative approaches that provide useful econometric and … model-simulation tools to analyze debt sustainability. The first approach is Bohn's non-structural empirical framework based … three approaches to analyze debt sustainability in the United States and Europe after the recent surge in public debt …
Persistent link: https://www.econbiz.de/10012457095
IMF forecasts and the EU's Fiscal Compact foresee Europe's heavily indebted countries running primary budget surpluses … of as much as 5 percent of GDP for as long as 10 years in order to maintain debt sustainability and bring their debt …
Persistent link: https://www.econbiz.de/10012458350