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  • Profits, Rents and Resource Rents

    Creator:
    Arnason, Ragnar
    Abstract:
    The concept of rents has a venerable history in economic theory. In his fundamental work on the Wealth of Nations, Adam Smith defined the concept making it clear that rents were distinct from profits. Ricardo, building on the foundation laid by Adam Smith, similarly distinguished between profits and rents in...
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    Fisheries Economists Biannual Conference, 2017 La Paz, Mexico March 22-24, 2017 Ragnar Arnason

  • On the Appropriate Rate of Discount

    Creator:
    Arnason, Ragnar
    Abstract:
    Discount rates, it is well-known, play an important role in the determining optimal extraction paths for natural resources. In fisheries analysis, as well as other natural resource use, constant discount rates are customarily assumed. In practical applications, the constant discount rate is often taken to be the social rate of...
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    Association of Fisheries Economists Biannual Conference, 2017 La Paz, Mexico March 22-24, 2017 Ragnar

  • Economics of the Global Marine Fishery: Changes between 2004 and 2012

    Creator:
    Arnason, Ragnar
    Abstract:
    In 2009 the World Bank published a study of the economic performance of the global marine fishery pertaining to the base year 2004. The key finding of this study was that the global fishery in 2004 was economically and biologically highly inefficient. More precisely, the difference between attainable and actual...
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    IIFET 2016 Aberdeen, Scotland July 11-15, 2016 Ragnar Arnason Background • Fisheries are globally

  • Fisheries Management Services in Iceland: Costs and Arrangements

    Creator:
    Arnason, Ragnar
    Abstract:
    To run the ITQ system as well as other components of the fisheries management system, the Icelandic government conducts a number of activities which may be regarded as fisheries management services. The most important of these are performed by (i) the Fisheries Directorate which maintains the quota registry and enforces...
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    and arrangements Paper presented at IIFET 2014 Brisbane, Australia July 7-11, 2014 Ragnar Arnason

  • Economically Sensible Caps on ITQ-Holdings

    Creator:
    Arnason, Ragnar
    Abstract:
    Many ITQ fisheries are subject to an upper limit or cap on ITQ-holdings by individual companies. The economic rationale for these caps seems to be to reduce the opportunities for monopolistic behaviour by the companies. A possible social cost of the caps is that limiting company size in fisheries, especially...
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    Paper presented at IIFET 2014 Brisbane, Australia July 7-11, 2014 Ragnar Arnason Introduction

  • ITQ Prices: What do they Reveal?

    Creator:
    Arnason, Ragnar
    Abstract:
    ITQ systems generate ITQ prices. For any given ITQ-managed species there are typically two prices. One is for the annual (or seasonal) quota, the other is for the longer lasting ITQ-share. In well-functioning ITQ markets, these prices reveal important information about the fishery. In the single species framework, prices of...
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    at IIFET 2014 Brisbane, Australia July 7-11, 2014 Ragnar Arnason Introduction • Many ITQ

  • Global Warming and Fisheries: Thoughts on a Sensible Response

    Creator:
    Arnason, Ragnar
    Abstract:
    Atmospheric measurements show that so-called greenhouse gases have been accumulating in the Earth’s atmosphere for well over a century. There are strong indications that human activity plays a significant role in this process. One consequence of the accumulation of greenhouse gases is thought to be an increase in global temperatures...
    Resource Type:
    Research Paper
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    Portsmouth Proceedings GLOBAL WARMING AND FISHERIES: THOUGHTS ON A SENSIBLE RESPONSE Ragnar Arnason

  • Fisheries Enforcement: Basic Theory

    Creator:
    Arnason, Ragnar
    Abstract:
    If fisheries management is supposed to affect behaviour, it has to be enforced. Fisheries enforcement has generally been found to be quite costly compared to the attainable rents from the fishery. This has a number of important implications. First, obviously, it is economically important to operate the enforcement activity at...
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    Research Paper
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    Portsmouth Proceedings FISHERIES ENFORCEMENT: BASIC THEORY Ragnar Arnason, University of Iceland and

  • Community Fishing Rights: Some Basic Principles

    Creator:
    Arnason, Ragnar
    Abstract:
    It is now widely recognized that property rights based fisheries management regimes are well suited for generating efficiency in fisheries. Apart from access licences, which are very low quality property rights, individual quotas (IQs) and individual transferable quotas (ITQs) are the most widely applicable and, indeed, the most commonly applied...
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    COMMUNITY FISHING RIGHTS: SOME BASIC PRINCIPLES* Ragnar Arnason, University of Iceland and European

  • Fisheries Rents: Theoretical Basis and an Example

    Creator:
    Arnason, Ragnar
    Abstract:
    The concept of natural resource rents is much used in the natural resource and fisheries economics literature. It is therefore somewhat surprising that in this same literature it is difficult to find a clear definition of either natural resource rents or fisheries rents. Possibly, as a result, the concept is...
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    Proceedings FISHERIES RENTS: THEORETICAL BASIS AND AN EXAMPLE Ragnar Arnason, University of Iceland and