A fundamental problem for an economy based on a common property resource is the absence of a market to trade the resource. This implies that private costs are below social costs. This paper investigates possible government interventions that correct for such distortions in a neoclassical growth...

A fundamental problem for an economy based on a common property resource is the absence of a market to trade the resource. This implies that private costs are below social costs. This paper investigates possible government interventions that correct for such distortions in a neoclassical growth...

This paper establishes that a targeted policy backfires because it reveals information about non-targeted units. In the world's largest fishery, the regulator attempts to reduce the harvesting of juvenile fish by temporarily closing areas where the share of juvenile catch is high. By combining...

The Pacific Island nations heavily rely on the tuna fishery for government revenue and economic growth. Since the conversion of some nations to the Vessel Days Scheme (VDS) from the fishing Quota system, the region's domestic catch has significantly increased. VDS has stimulated economic return...