Present resource rents in Norway's fisheries were compared for different fleet structures. Alternative values of TACs were assumed, which is consistent with how most fisheries in Norwegian waters are managed. Total allowable catches (TACs) are set on the basis of advice by fisheries biologists where the economics of the industry...
The relative efficiency of landing fees versus quota controls to achieve given escapement levels is examined. The criterion is profit per year over a given time horizon. The model employed is a discrete version of the logistic model where growth is influenced by a random variable. Simulations are used to...
Weitzman (2002) has shown that with a stochastic growth function and uncertainty in estimating stock size, landing fees will be superior to quotas as a means of controlling fish harvest. Hannesson and Kennedy (2003) expand the analysis by considering variable availability of fish, random fish prices, and non-constant returns to...
Quotas rather than landing fees are widely used for reducing the output of fisheries below open-access levels. One reason may be that quotas are perceived as a more reliable instrument for controlling total catch. However, whilst under certainty fees and quotas can be set each season to achieve the same...