Property Rights in a Fishery: Regulatory Change and Firm Performance
نویسندگان
چکیده
A new method is introduced and applied to analyze changes in productivity of Þrms harvesting a natural capital stock. The index-number technique decomposes the contributions of output prices, variable input prices, Þxed inputs and productivity to Þrm proÞts, adjusted for changes in the natural capital stock. An application of the method is given using micro-level data from a common-pool resource. The indexes provide a ready-made comparison of all Þrms to the most proÞtable Þrm per unit of resource stock. Benchmarking with the decompositions also allows Þrms and regulators to determine what components are contributing most to economic proÞts and improve overall industry performance.
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