Over the past two decades, the marketing of fish has recognized the importance of quality. Yet empirical analysis of market transactions could give us little insight into the value of different qualities of fish because market data are typically aggregated. We exploit a dataset on the auction...

A Cournot model of investment is used to characterize the pre- and post-buyback investment equilibrium for vessels operating in a total-allowable-catch-regulated fishery. Welfare effects the net welfare gains or losses and the distributional effects programs are identifed. Net welfare effects...