Instrument choice when regulators are concerned about resource extinction
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Instrument choice when regulators are concerned about resource extinction. / Hansen, Lars Gårn; Jensen, Frank; Russell, Clifford .
In: Resource and Energy Economics, Vol. 35, No. 2, 2013, p. 135-147.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - Instrument choice when regulators are concerned about resource extinction
AU - Hansen, Lars Gårn
AU - Jensen, Frank
AU - Russell, Clifford
PY - 2013
Y1 - 2013
N2 - In this paper we undertake a systematic investigation of instrument choice when preventing a population collapse rather than maximizing industry profit is the overriding concern. Contrary to what seems to be the general consensus we find that landing fees do provide more effective insurance against extinction than quotas under more or less the same conditions as those implying that landing fees are better at maximizing industry profit. Thus, the efficiency of the regulatory instrument mainly depends on the basic information asymmetries characterizing the fishery, and is not sensitive to whether the regulators total catch goals are set according to economic or precautionary principles.
AB - In this paper we undertake a systematic investigation of instrument choice when preventing a population collapse rather than maximizing industry profit is the overriding concern. Contrary to what seems to be the general consensus we find that landing fees do provide more effective insurance against extinction than quotas under more or less the same conditions as those implying that landing fees are better at maximizing industry profit. Thus, the efficiency of the regulatory instrument mainly depends on the basic information asymmetries characterizing the fishery, and is not sensitive to whether the regulators total catch goals are set according to economic or precautionary principles.
U2 - 10.1016/j.reseneeco.2012.12.001
DO - 10.1016/j.reseneeco.2012.12.001
M3 - Journal article
VL - 35
SP - 135
EP - 147
JO - Resource and Energy Economics
JF - Resource and Energy Economics
SN - 0928-7655
IS - 2
ER -
ID: 44309901