Analytical results for steady-state values of the biomass that maximises the sum of inter-temporal economic profits (dynamic bMEY) are derived in terms of a generalised harvesting function. The conditions under which dynamic bMEY exceeds the biomass that maximises the sustained yield (bMSY) are...

We present the first ex post study that quantitatively analyses the effects of a licence buy-back and enhanced quota trading on the profitability and productivity of individual vessels in a fishery. Using firm-level data and a profit index decomposition method, we find that small and large...

We present the first ex post study that quantitatively analyses the effects of a licence buyback and enhanced quota trading on the profitability and productivity of individual vessels in a fishery. Using firm-level data and a profit index decomposition method, we find that small and large...

Analytical results for steady-state values of the biomass that maximises the sum of inter-temporal economic profits (dynamic b_MEY) are derived in terms of a generalised harvesting function. The conditions under which dynamic b_MEY exceeds the biomass that maximises the sustained yield (b_MSY) are...

Overcapacity is a major problem in common-pool resources. Regulators increasingly turn from limited entry to individual transferable use rights to address overcapacity. Using individual vessel data from before and after the introduction of individual harvest rights into a fishery, the paper...