Abstract
An analysis of ITQ fisheries management is offered in which two different groups of agents facing uncertain harvesting costs take part. The first group, termed as the coastal fleet, is risk averse, while the second group, interpreted as the ocean fleet, is risk neutral. In contradiction to what is seen in deterministic models of quota markets, given strongly decreasing absolute risk aversion amongst the coastal fleet members, it is found that the initial quota allocation affects the equilibrium quota price and the final catch distribution influencing the economic efficiency in the fishing industry.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
