The objective of this paper is to illustrate that economic institutions matter, i.e., that different rules of trade present different incentives for bidding, asking and trading in new markets, and that these different incentives lead to different price discovery patterns which yield materially different outcomes. In a laboratory tradable fishing...
A new type of fisheries management approach termed catch share is set to
be implemented in the US Northeast groundfish fisheries in May 2010.
This approach gives a group of harvesters, called a sector, a portion of the
TAC to manage independently - a hybrid of co-management and individual
quota....
In many fisheries, harvesters of different scales, different gears, or on
different sides of political boundaries crossed by a single stock are
effectively managed separately. The New England Multispecies
(groundfish) fishery is about to dramatically expand the number of
management systems in place concurrently, by allocating portions of the
total...