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This paper analyzes the effect of market power in a model with dynamic and biological externalities. When several … countries harvest fish in international waters the evolution of fish population is affected by their joint action, thus …, generating a biological and a dynamic externality. If there is trade in fish, the market-clearing prices depend on the harvesting …
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Over the past several decades, the fishing sector has experienced dramatic changes. Production and trade have increased considerably. The relative importance of developing countries has grown as they expanded their fishing efforts and as a result of over-fishing in OECD countries
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