Buyback auctions are often proposed as a policy to reduce excess capacity in fishing fleets prior to or in place of implementing a tradable quota program. In this paper I take a critical look at possible designs for such a policy in environments with uncertainty and asymmetric information. In an...
In an open fishery, the competition for the limited fish stock can lead fishermen to a ``race for fish" with sub-optimally high capital investments. Buyback programs to reduce excess capacity in national fisheries have been often used, but seldom successful. Where they have successfully reduced excess capacity, the programs have...
There is growing realization of the potential for games and experiments as powerful tools not only for research, but also for education and outreach. Experiments are particularly powerful and useful for fisheries economists because (a) they can vividly illustrate some fundamental concepts and (b) are effective at testing the relative...