This paper presents empirical evidence of production distortions under controlled access management in the Mid-Atlantic surf clam and ocean quahog fishery. Results indicate that vessels harvested multiple clam species even though the harvest technology exhibits diseconomies of scope. Vessels...

We present a dynamic game of search and learning about the productivity of competing fishing locations. Perfect Bayesian Nash equilibrium search patterns for non-cooperating fishermen and members of an information sharing cooperative are compared with first-best outcomes. Independent fishermen...

We study production capacity utilization and emission permit utilization in a model where firms jointly produce a valued good and an environmental bad, pollution. Firms are ex ante identical but experience random productivity shocks after factor employment. A regulator imposes a cap-and-trade...

We study production capacity utilization and emission permit utilization in a model where firms jointly produce a valued good and an environmental bad, pollution. Firms are ex ante identical but experience random productivity shocks after factor employment. A regulator imposes a cap-and-trade...

We study harvesting efficiency and the problem of discards under harvest uncertainty in a fishery that is managed with quotas. With only idiosyncratic harvest uncertainty, we show that frictionless post-harvest quota trade can achieve full efficiency and eliminate quota-overage discards...

Using data from the Mid-Atlantic surf clam and ocean quahog fishery, we find that firms with a preference for extreme, rather than moderate, policies are much more likely to participate in public meetings where regulation is determined. We also find that participation rates are higher for...

Pooling diversified and specialized firm data to analyze multiproduct cost technologies raises two issues in applied research: (1) a functional form must be specified that accommodates zero outputs, and (2) assumptions must be made regarding the structure of the multiproduct technology when some...