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...

The effects of six common forms of fisheries support are estimated using a bioeconomic model of the global fishery. The results show that all have the potential to provoke overfishing, to lead to fish stocks being overfished, to encourage illegal, unreported or unregulated (IUU) fishing and to...