We study how the strength of property rights to individual extractive firms affects a regulator's choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in...

We study how the strength of property rights to individual extractive firms affects a regulator's choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in...

Introduction: political roles for fish populations -- The fishing empires of the Pacific: the Americans, the Japanese, and the Soviets -- Islands and war -- Manifest destiny and fishing -- Tariffs -- Industrialization -- Treaties -- Imperialism -- Enclosure -- Conclusions: updating the best...