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A note on uncertainty and rent capture in an ITQ fishery.

An examination of the impact of uncertainty on the expected resource rent, the short-run quota equilibrium, and the methods of rent capture in an individual transferable quota fishery with heterogeneous fishers. Some new results are provided on the effects of output price uncertainty on the quota d...

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Published in:Journal of Environmental Economics & Management Vol. 27; pp. 286 - 295
Main Author: Grafton, R. Quentin
Format: Article
Published: Academic Press Inc. November 1994
Subjects:
Fisheries > Economic aspects
Rent (Economic theory)
Mathematical models
Individual fishing quotas
Resource allocation > Mathematical models
Uncertainty
Economics
Online Access:View this record in EBSCOhost
Summary:An examination of the impact of uncertainty on the expected resource rent, the short-run quota equilibrium, and the methods of rent capture in an individual transferable quota fishery with heterogeneous fishers. Some new results are provided on the effects of output price uncertainty on the quota demands, the short-run equilibrium, and the possible choice of a technique of rent capture.