The Relative Efficiency of Fees and Quotas Applied to Fisheries Under Different Types of Uncertainty Public Deposited

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  • Quotas rather than landing fees are widely used for reducing the output of fisheries below open-access levels. One reason may be that quotas are perceived as a more reliable instrument for controlling total catch. However, whilst under certainty fees and quotas can be set each season to achieve the same target of total catch resulting in maximum rents over the long run, this need not apply under uncertainty. Weitzman has shown analytically that fees outperform quotas when the start-of-season stock is known by fishers but not by the regulator setting the landing fee or quota. It is difficult to obtain analytical results for other sources of uncertainty. Numerical optimisation is used for determining the preferred instrument for the typical simple characterisation of the fishery problem with stock, fish price and availability of the fish stock subject to the same type of asymmetric uncertainty for regulatory and fisher as considered by Weitzman.
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  • Kennedy, John O. S., Røgnvaldur Hannesson. 2004. The Relative Efficiency of Fees and Quotas Applied to Fisheries Under Different Types of Uncertainty. Peer Review: No. In: Proceedings of the Twelfth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 20-30, 2004, Tokyo, Japan: What are Responsible Fisheries? Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2004. CD ROM. ISBN 0-9763432-0-7
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