Can A 'Feasible' Rent Collector Earn His Hire? Public Deposited

http://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/z603qz252

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  • Price instruments are rarely seen in fisheries despite their many desirable properties. In this paper, I find new reasons to favor price instruments in a fishery. Given constraints on information and enforcement precluding the optimum optimorum, I consider a second-best but welfare improving policy when catch limits cannot be enforced and there are insufficient data to reliably estimate biological and technological parameters. I develop a 'feasible' tax for heterogeneous fishing grounds requiring only random observations on catches, prices and effort. Through simulations, I evaluate the performance of the 'feasible' tax relative to fishery-statistics based management policies. I calculate 'feasible' taxes using harvest and effort data from Gulf of California Mangrove-associated species. The short panel data demonstrate spatial variability in revenue-per-unit-effort. This variation is best explained empirically by Mangrove variability. The 'feasible' tax exploits spatial variation in fish stock productivity as a function of the natural capital input, Mangrove-fringe length. Using a standard bioeconomic model calibrated to these data, I use computer simulations of bioeconomic equilibria to revisit Samuelson's rent collector and ask: how much of the rent collector's earnings must be transferred to labor for labor to favor the policy?
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  • Murray, Jason. 2010. Can A 'Feasible' Rent Collector Earn His Hire? In: Proceedings of the Fifteenth Biennial Conference of the International Institute of Fisheries Economics & Trade, July 13-16, 2010, Montpellier, France: Economics of Fish Resources and Aquatic Ecosystems: Balancing Uses, Balancing Costs. Compiled by Ann L. Shriver. International Institute of Fisheries Economics & Trade, Corvallis, Oregon, USA, 2010.
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