Open access, common property and scarcity rent in fisheries

Market Rent Dissipation in Regulated Open Access Fisheries

Strategies for Enhancing Rent Capture in ITQ Fisheries

An ITQ system that relies on a single price to allocate harvest rights will not be fully efficient unless the stock in question is uniform in terms of its economic value. Variations in the location or density of portions of a stock can give rise to corresponding variations in value, leading harvesters to compete for the best portions of the stock. The size of the waste that can arise from this ...

Restricted capacity and rent dissipation in a regulated open access fishery

A common strategy for limiting the total annual catch in a fishery is to restrict entry and season length. We examine the results of this strategy when entry limitation amounts to a limit on capital, but fishing firms can vary an unrestricted input, and thereby use the restricted input more intensively. Under these regulatory constraints, fishing firmswill earn rents that depend on the elastici...

Water access, water scarcity, and climate change.

This article investigates the approaches of the various discourses operating in the water sector and how they address the issues of scarcity and equitable access under projected climate change impacts. Little synergy exists between the different approaches dealing with these issues. Whilst being a sustainable development and water resources management issue, a holistic view of access, scarcity ...

Complexities in Common Property

In an optimal growth setting, where the only productive asset is a renewable resource which is jointly exploited, it is shown that competitively the resource may be over-used or under-used. The diversion from optimal use arises due to the externality embodied in the jointness of exploitation and would intuit over-use. Surprisingly, under-use has been derived as an equilibrium phenomenon by Dutt...