In this article, intraseasonal fishing is modeled as a differential game between fishers in a total allowable catch (TAC)–regulated fishery with and without individual fishing quotas (IFQs). Heterogeneous harvest values are included by incorporating time-specific harvest costs and a...

University of Minnesota Ph.D. dissertation. August 2009. Major: Economics. Advisor: Larry Jones. 1 computer file (PDF); viii, 131 pages, appendix pages 101-131.

This paper addresses the question of what it takes to obtain a well-defined extensive form game. Without relying on simplifying finiteness or discreteness assumptions, we characterize the class of game trees for which all pure strategy combinations induce unique outcomes. The generality of the...

This dissertation consists of three chapters on the topic of differential games and resource economics. The first chapter extends the envelope theorem to the class of discounted infinite horizon differential games that posses locally differentiable Nash equilibria. The theorems cover both the...

Most markets have evolved as buyers and sellers constantly search for ways to create value, however this has not occurred naturally in all areas of the economy – markets are missing for some goods, including the environment. In such cases, transaction costs linked to property rights, asymmetric...

This paper presents an analysis of agricultural contracts using a transaction costs approach. We contend that in a context of modern agriculture, with well defined property rights, agricultural contracts must balance costs and benefits, aligning tenant and landlord incentives towards a similar...

This paper presents econometric evidence of the effects of economic incentives and institutions on national aggregate private agricultural R&D investments. A model is proposed and fitted to annual data for seven European Union countries, 1984-1995. We find strong impacts of both incentives and...

The conflict between efficiency and maximization of employment colours all aspects of fisheries management in Canada, including implementation of rights based fisheries management regimes. Even though rights based systems are strongly based on considerations of efficiency, sometimesat the...

Abstract—Existing research treats the cooperative structure as relatively homogeneous. The proposed paper argues that all cooperatives are not created equal – and consideration of organizational structure is critical when analyzing the economic impact of cooperation. In recent empirical...

Individual transferable quota (ITQ) regulation relies on a decentralizedmarket mechanism and a single price to allocate access to a stock of fish. The resulting allocation will not be fully efficient if the stock being allocated is heterogeneous or if there are potential gains from centralized...