Newell, Richard G.; Papps, Kerry L.; Sanchirico, James N. - In: American Journal of Agricultural Economics 89 (2007) 2, pp. 259-272
We investigate the applicability of the present-value asset pricing model to fishing quota markets by applying instrumental variable panel data estimation techniques to 15 years of market transactions from New Zealand's individual transferable quota (ITQ) market. In addition to the influence of...
