Abstract
The distribution of natural resources such as fish or forest, among many others, is an everyday political, economic, and ecological issue. Auctions are a possible alternative for grandfathering (historical rights). As many economists believe, an auction is the most efficient procedure to distribute quotas for resources. In 2019, the auction for Russian crab quotas yielded the largest revenue (more than 2 bln. euros) among world auctions, except for spectrum auctions. We analyse the strategic behavior of its participants and propose a better scheme of auction which is more favorable for newcomers and small companies, and potentially generates more revenue (up to 40% on 19 out of 31 lots) for the government.
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.
