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Tradeable Property Rights And Overcapacity: The Case Of The Fishery
Squires, Dale Jeon, Yongil Grafton, R. Quentin Kirkley, James E.
Squires, Dale
Jeon, Yongil
Grafton, R. Quentin
Kirkley, James E.
Abstract
In fisheries, overcapacity is a critical problem that reduces rents and jeopardizes the sustainability of stocks. Using data from the British Columbia (BC) halibut fishery, before and after tradeable property rights were adopted in the harvesting sector, the paper tests for the effects of private rights on capacity and capacity utilization. The results indicate that tradeable property rights can be effective, even in the short-term, at reducing capacity per vessel per day and provide incentives to help overcome the "Tragedy of the Commons".
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2003-01-01
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Food And Agriculture Organization Of The United Nations
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Virginia Institute of Marine Science