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Restoring a Fish Stock: A Dynamic Bankruptcy Problem

Author

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  • Anders Skonhoft

    (Department of Economics, Norwegian University of Science and Technology)

  • Elena Inarra

    (Department of Economics, University of the Basque Country, Spain)

Abstract

Total Allowable Catch (TAC) regulating schemes have been introduced in most fisheries. TAC distribution following the Proportional Rule, based on historical catches, implies that harvesters or vessel groups which have captured more in the past and contributed to overfishing are getting larger quotas than groups that have contributed less to overfishing. In contrast to this rule a more egalitarian rule, the Constrained Equal Award Rule, is proposed for distributing the TAC. Contingent upon the fishing techniques used by the harvesters, it is demonstrated how the fish stock recovery period, harvest and profitability may vary according to these two rules.

Suggested Citation

  • Anders Skonhoft & Elena Inarra, 2007. "Restoring a Fish Stock: A Dynamic Bankruptcy Problem," Working Paper Series 8507, Department of Economics, Norwegian University of Science and Technology.
    • Handle: RePEc:nst:samfok:8507
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    File URL: http://www.svt.ntnu.no/iso/WP/2007/2Bankruptcy0307.pdf
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    References listed on IDEAS

    as
    1. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Working Papers 0025, University of Washington, Department of Economics.
    2. Marta Escapa & RaÚl Prellezo, 2003. "Fishing Technology and Optimal Distribution of Harvest Rates," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(3), pages 377-394, July.
    3. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Eun Jeong Heo & Jinhyuk Lee, 2023. "Allocating $$\hbox {CO}_2$$ CO 2 emissions: a dynamic claims problem," Review of Economic Design, Springer;Society for Economic Design, vol. 27(1), pages 163-186, February.
    2. Duro, Juan Antonio & Giménez-Gómez, José-Manuel & Vilella, Cori, 2020. "The allocation of CO2 emissions as a claims problem," Energy Economics, Elsevier, vol. 86(C).
    3. Helgesen, Irmelin Slettemoen & Skonhoft, Anders & Eide, Arne, 2018. "Maximum Yield Fishing and Optimal Fleet Composition. A Stage Structured Model Analysis With an Example From the Norwegian North-East Arctic Cod Fishery," Ecological Economics, Elsevier, vol. 153(C), pages 204-217.

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    More about this item

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery

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