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  • Auctions for Initial Sale of Annual Catch Entitlement

    Creator:
    Anderson, Christopher and Holland, Daniel S.
    Abstract:
    When several new species are introduced into the New Zealand Quota Management System in the near future, some of the quota, or single-year annual catch entitlement (ACE), will be tendered through competitive auctions rather than allocated based on historical catch. This study uses a laboratory experiment calibrated to a representative...
    Resource Type:
    Research Paper
    Full Text:
    other two auctions. Keywords: fishery management; transferable allowance; ITQ; experiment; auction

  • Experimental Testbedding Institutions for Tradable Fishing Allowances

    Creator:
    Anderson, Christopher and Sutinen, Jon G.
    Abstract:
    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...
    Resource Type:
    Research Paper
    Full Text:
    management; transferable allowance; ITQs; experiment; tradable fishing rights INTRODUCTION Policymakers