In this paper, we consider a market where potential firms, which are allowed to be asymmetric, can freely enter and exit, and the total output would be socially excessive without any regulation. The effects of two alternative regulatory policies in the market: the individually transferable quota...

We evaluate the effectiveness of non optimal and temporally inconsistent incentive policies for regulating the exploitation of a renewable common-pool resource. The corresponding game is an N-person discrete-time deterministic dynamic game of T periods fixed duration. Three policy instruments...

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...