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Rent-Maximization versus Competition in the Western and Central Pacific Tuna Fishery AgEcon
Hannesson, Rognvaldur; Kennedy, John O.S..
Where a fish stock straddles or migrates between country A's exclusive economic zone (EEZ) and country B's EEZ, or the high seas, vesting ownership rights in the stock with A does not ensure efficient harvesting of the stock. This problem arises in the case of migratory tuna stocks in the Western and Central Pacific Ocean (WCPO). Four species of tuna reside for only part of the year in the EEZs of coastal states, many of which are Pacific Island Countries (PICs). Most of the harvesting of the stocks is carried out by distant water fishing nations such as the USA, Japan, Taiwan, China and Korea. Problems arise for achieving efficiency and equity in the harvesting of the stocks by disparate countries. The problems are made more difficult by changes in the...
Tipo: Conference Paper or Presentation Palavras-chave: Bioeconomic modelling; Game theory; Optimisation; Migratory tuna; Resource /Energy Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/9458
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The Long and Winding Road: Norway's Approach to ITQs AgEcon
Hannesson, Rognvaldur.
Individual transferable quotas (ITQs) are primarily tools to achieve economic efficiency and do not amount to ownership of fish stocks. The 200 mile exclusive economic zone (EEZ) went a long way to establish national jurisdiction over fish stocks, and without this ITQs would not have been possible. Shortly after the EEZs were established, Norway and the neighboring countries agreed on the sharing of fish stocks in the EEZ. The road to ITQs in Norway has, however, been long and winding. The paper discusses the obstacles to ITQs in general and how they have played out in Norway in particular. Despite not being conservation tools, individual vessel quotas have been considered helpful in enforcing overall catch limits. The driving forces behind transferability...
Tipo: Conference Paper or Presentation Palavras-chave: Resource /Energy Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/9464
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PRICE FOUNDED TESTS FOR MARKET INTEGRATION: FISH MARKETS IN FRANCE AgEcon
Asche, Frank; Gordon, Daniel V.; Hannesson, Rognvaldur.
This paper discuss the relationship between traditional parametric tests for market integration such as causuality tests and tests of the Law of One Price and cointegration tests for market integration. We show that cointegration tests are a natural extension of the traditional methods taking into account that prices are nonstationary, and not an alternative approach. By using the Johansen test, one can both test for causality and provided that prices are cointegrated, for the Law of One Price. An empirical analysis is provided for the whitefish market in France.
Tipo: Conference Paper or Presentation Palavras-chave: Industrial Organization; Research Methods/ Statistical Methods.
Ano: 1998 URL: http://purl.umn.edu/20904
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