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Uncertainty and the choice of quota program in a multi-product fishery

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  • Matthew A. Turner

Abstract

This paper considers the design of individual quota programs for fisheries where more than one market class of fish is harvested and where a manager is uncertain about the fishing technology, prices, stock levels, and compliance. In particular, the paper considers three problems that follow from a manager's uncertainty and the multi-product nature of the fishery; discarding, ex ante uncertainty, and data fouling. Since multi-product fisheries and uncertainty are the norm, the issues addressed here are fundamental to fisheries regulation.

Suggested Citation

  • Matthew A. Turner, 1999. "Uncertainty and the choice of quota program in a multi-product fishery," Working Papers mturner-01-01, University of Toronto, Department of Economics.
    • Handle: RePEc:tor:tecipa:mturner-01-01
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    File URL: https://www.economics.utoronto.ca/public/workingPapers/UT-ECIPA-MTURNER-01-01.pdf
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    References listed on IDEAS

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    1. Weitzman, Martin L, 1978. "Optimal Rewards for Economic Regulation," American Economic Review, American Economic Association, vol. 68(4), pages 683-691, September.
    2. Johnson, Ronald N & Libecap, Gary D, 1982. "Contracting Problems and Regulation: The Case of the Fishery," American Economic Review, American Economic Association, vol. 72(5), pages 1005-1022, December.
    3. Matthew A. Turner, 1995. "Value-based ITQ's," Working Papers mturner-95-03, University of Toronto, Department of Economics.
    4. Turner, Matthew A., 1997. "Quota-Induced Discarding in Heterogeneous Fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 186-195, June.
    5. Roberts, Marc J. & Spence, Michael, 1976. "Effluent charges and licenses under uncertainty," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 193-208.
    6. Matthew A. Turner, 1998. "Optimal quota programs," Working Papers mturner-98-01, University of Toronto, Department of Economics.
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    More about this item

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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