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Output Substitution in a Regulated Fishery

Author

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  • Carsten Lynge Jensen

    (Institute of Local Government Studies, Denmark)

Abstract

Production condition and behavioural reactions have traditionally been modelled in unregulated industries. The paper examines the impact that output regulation will have in an industry of multiple outputs where production of regulated and unregulated outputs are combined. The industry’s respond to output regulation is critical depending on whether the regulated and unregulated outputs are produced as complements or substitutes in the production process. The elasticity between restricted and unrestricted outputs measure the output transformation in the regulated industry. Applied on a regulated fishery that consists of revenue maximising firms the paper examines how a tightening of the output regulation will affect the exploitation of the unregulated fish resources.

Suggested Citation

  • Carsten Lynge Jensen, 2000. "Output Substitution in a Regulated Fishery," Working Papers 7/00, University of Southern Denmark, Department of Sociology, Environmental and Business Economics.
    • Handle: RePEc:sdk:wpaper:7
    as

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    File URL: http://www.sdu.dk/~/media/Files/Om_SDU/Institutter/Miljo/ime/wp/Jensen7.ashx
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    References listed on IDEAS

    as
    1. Diane P. Dupont, 1991. "Testing for Input Substitution in a Regulated Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(1), pages 155-164.
    2. Mohammad Alam & Ishak Omar & Dale Squires, 1996. "Sustainable resource use, economic development, and public regulation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 7(2), pages 117-132, March.
    3. Douglas W. Lipton & Ivar E. Strand, 1992. "Effect of Stock Size and Regulations on Fishing Industry Cost and Structure: The Surf Clam Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 197-208.
    4. Hall, Robert E, 1973. "The Specification of Technology with Several Kinds of Output," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 878-892, July-Aug..
    5. Trond Bjørndal & Daniel V. Gordon, 1993. "The Opportunity Cost of Capital and Optimal Vessel Size in the Norwegian Fishing Fleet," Land Economics, University of Wisconsin Press, vol. 69(1), pages 98-107.
    6. Squires, Dale & Kirkley, James, 1991. "Production quota in multiproduct pacific fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 21(2), pages 109-126, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Barbara Hutniczak, 2014. "Increasing Pressure on Unregulated Species Due to Changes in Individual Vessel Quotas: An Empirical Application to Trawler Fishing in the Baltic Sea," Marine Resource Economics, University of Chicago Press, vol. 29(3), pages 201-217.
    2. Staffan Waldo & Frank Jensen & Max Nielsen & Hans Ellefsen & Jónas Hallgrimsson & Cecilia Hammarlund & Øystein Hermansen & John Isaksen, 2016. "Regulating Multiple Externalities: The Case of Nordic Fisheries," Marine Resource Economics, University of Chicago Press, vol. 31(2), pages 233-257.
    3. Christian Elleby & Frank Jensen, 2018. "How Many Instruments Do We Really Need? A First-Best Optimal Solution to Multiple Objectives with Fisheries Regulation," IFRO Working Paper 2018/05, University of Copenhagen, Department of Food and Resource Economics.

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