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The Icelandic ITQ system has been under development since the early 1980s. Rights were initially grandfathered. Rights have been priced and traded and put up as collateral against loans. Quota values have thus affected the balance sheet of Icelandic fishing firms in a fundamental way. The aim of this paper...
Full Text:
firms?
PRICING
THE
RIGHT
TO
FISH
AND
THE
EX-‐VESSEL
PRICE
OF
FISH
The Icelandic ITQ system has been under development since the early 1980s. Rights were initially grandfathered. Rights have been priced and traded and put up as collateral against loans. Quota values have thus affected the balance sheet of Icelandic fishing firms in a fundamental way. The aim of this paper...
Full Text:
profitability of
holding a right to fish and beliefs about profitability of publicly traded firms goes in
Most trade literature is concerned with gains from free trade under the assumption that traded goods are produced under complete property rights. Seldom have researchers examined the consequences of free trade in the presence of incomplete property rights over renewable natural resources. In this paper, we explore these consequences. In...
The article discusses the issue and complexities that arise when two sectors, fisheries and marine tourism, grown and imply for an institution governing coral reef ecosystem either government based or community based. Even though, a community-based management system is commonly recognized as a better way in governing the resources, the...