Early studies of economies of scale show that ownership limitations imposed large costs on salmon farming firms prior to the deregulation of the industry in 1991. Since then a number of mergers and acquisitions have taken place and the industry has become far more concentrated. Despite this, a number of...
Parasites and diseases represent major challenges in aquaculture. In the Norwegian salmon farming industry, costs associated with treatment of sea lice are surging and reached 5bn NOK or 10% of the industry’s total export value in 2015. In addition to the direct impact on production, sea lice affect the industry...
One of the main concerns surrounding the transition to individual transferable quota (ITQs) is that it could have adverse distributional consequences. Some fisheries, such as the West Coast Groundfish fishery, have implemented moratoria on permanent transfers due to a concern that large-scale firms could take advantage of smaller-scale by not...
We investigate how individual preferences affect noncompliance in fisheries. We use data from a combined web-based experiment and survey of Norwegian fishermen to empirically analyze this. In the economic experiment, the participants won real money in a set of lotteries based on their answers and lottery outcomes. Based on the...
Excess and over capacity are key management issues in global fisheries. These issues have also received widespread attention in the literature. Previous work on firm-level investment behavior in fisheries, both theoretical and empirical, typically assumes risk neutral and profit maximizing agents. While this work has led to a much better...
When a new market is created for ITQs, fishermen may have little information about the value of the newly-created assets that they hold. As such, concerns have been raised regarding distributional concerns associated with the transition to market-based management of natural resources. Aside from the first-order concerns regarding the initial...
Fishing is risky business. Managers and Fishermen therefore care not only about the average income, but also about its variation. In spite of its importance, little is known about the observed risk exposure of fishing firms and its determinants. We have obtained complete landing tickets data for a significant share...