Property rights are the foundation of institutions that shape economic decisions ranging from individual transactions to the performance of a country’s economy. The incentives generated by the institutions in place also translate into measures of vulnerability and recovery in the face of natural disasters. Using the example of Chilean fisheries...
Countries exploiting transboundary fisheries face strong incentives for over- exploitation. This basic economic insight has been validated empirically; transboundary fisheries tend to be in worse condition than fisheries in single nations. Thus, transboundary fisheries pose a significant, and globally ubiquitous, management challenge. Attempts to solve this challenge through cross-country cooperation...
There is a considerable amount of work done in transboundary fisheries and the implications of non-cooperative scenarios using game theory; there is also plenty of research about Marine Protected Areas (MPA) and their role on improving biomass, fishing yields and fishermen profits. However, there is still a lack of studies...
The lack of property rights in fisheries is a well-known source of undesirable outcomes in terms of sustainability and profitability for fisheries. Both Territorial User Fishing Rights (TURF) and Marine Protected Areas (MPA) have been proposed as a tool for managing coastal fisheries, recovering stocks and improving fishing yields; it...