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- W2299080989 abstract "The goal of this paper is to promote two ideas neglected by economists: sole ownership in fisheries and quantity regulation of a monopoly. By reviewing contemporary literature, the paper constructs an argument that sole ownership would not only solve many problems inherent to Individual Transferable Quotas like by-catch, high-grading, or quota-busting but can also achieve economies of scale and other technological gains. It is argued that sole ownership would lower regulation costs and that its introduction may be politically possible. The paper also develops a general two part quantity regulation model which is then applied to fishing industry. The main findings of the model are that the sole owner of a fishery tends to deliver the socially optimal output level even without regulation as long as demand is high and that, even with optimally designed annual catch limit, a sole owner can still exercise market power in some situations. The conditions preventing sole ownership from exercising its market power are identified." @default.
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- W2299080989 date "2012-01-01" @default.
- W2299080989 modified "2023-09-26" @default.
- W2299080989 title "Sole Ownership in Fisheries A Tentative Reappraisal" @default.
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- W2299080989 doi "https://doi.org/10.2139/ssrn.2342833" @default.
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