Regulating fisheries under uncertainty

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Regulating fisheries under uncertainty. / Hansen, Lars Gårn; Jensen, Frank.

In: Resource and Energy Economics, Vol. 50, 2017, p. 164-177.

Research output: Contribution to journal › Journal article › Research › peer-review

Harvard

Hansen, LG & Jensen, F 2017, 'Regulating fisheries under uncertainty', Resource and Energy Economics, vol. 50, pp. 164-177. https://doi.org/10.1016/j.reseneeco.2017.08.001

APA

Hansen, L. G., & Jensen, F. (2017). Regulating fisheries under uncertainty. Resource and Energy Economics, 50, 164-177. https://doi.org/10.1016/j.reseneeco.2017.08.001

Vancouver

Hansen LG, Jensen F. Regulating fisheries under uncertainty. Resource and Energy Economics. 2017;50:164-177. https://doi.org/10.1016/j.reseneeco.2017.08.001

Author

Hansen, Lars Gårn ; Jensen, Frank. / Regulating fisheries under uncertainty. In: Resource and Energy Economics. 2017 ; Vol. 50. pp. 164-177.

Bibtex

@article{5135886228a54f1d991c2a52733fdbf3,
title = "Regulating fisheries under uncertainty",
abstract = "Regulator uncertainty is decisive for whether price or quantity regulation maximizes welfare in fisheries. In this paper, we develop a model of fisheries regulation that includes ecological uncertainly, variable economic uncertainty as well as structural economic uncertainty. We aggregate the effects of these uncertainties into a single welfare measure for comparing tax and quota regulation. It is shown that quotas are always preferred to fees when structural economic uncertainty dominates. Since most regulators are subject to this kind of uncertainty, this result is a potentially important qualification of the pro-price regulation message dominating the fisheries economics literature. We also believe that the model of a fishery developed in this paper could be applied to the regulation of other renewable resources where regulators are subject to uncertainty either directly or with some modification.",
author = "Hansen, {Lars G{\aa}rn} and Frank Jensen",
year = "2017",
doi = "10.1016/j.reseneeco.2017.08.001",
language = "English",
volume = "50",
pages = "164--177",
journal = "Resource and Energy Economics",
issn = "0928-7655",
publisher = "Elsevier",

}

RIS

TY - JOUR

T1 - Regulating fisheries under uncertainty

AU - Hansen, Lars Gårn

AU - Jensen, Frank

PY - 2017

Y1 - 2017

N2 - Regulator uncertainty is decisive for whether price or quantity regulation maximizes welfare in fisheries. In this paper, we develop a model of fisheries regulation that includes ecological uncertainly, variable economic uncertainty as well as structural economic uncertainty. We aggregate the effects of these uncertainties into a single welfare measure for comparing tax and quota regulation. It is shown that quotas are always preferred to fees when structural economic uncertainty dominates. Since most regulators are subject to this kind of uncertainty, this result is a potentially important qualification of the pro-price regulation message dominating the fisheries economics literature. We also believe that the model of a fishery developed in this paper could be applied to the regulation of other renewable resources where regulators are subject to uncertainty either directly or with some modification.

AB - Regulator uncertainty is decisive for whether price or quantity regulation maximizes welfare in fisheries. In this paper, we develop a model of fisheries regulation that includes ecological uncertainly, variable economic uncertainty as well as structural economic uncertainty. We aggregate the effects of these uncertainties into a single welfare measure for comparing tax and quota regulation. It is shown that quotas are always preferred to fees when structural economic uncertainty dominates. Since most regulators are subject to this kind of uncertainty, this result is a potentially important qualification of the pro-price regulation message dominating the fisheries economics literature. We also believe that the model of a fishery developed in this paper could be applied to the regulation of other renewable resources where regulators are subject to uncertainty either directly or with some modification.

U2 - 10.1016/j.reseneeco.2017.08.001

DO - 10.1016/j.reseneeco.2017.08.001

M3 - Journal article

VL - 50

SP - 164

EP - 177

JO - Resource and Energy Economics

JF - Resource and Energy Economics

SN - 0928-7655

ER -

ID: 183473373