ISSN:
1573-1502
Keywords:
Renewable resources
;
open access
;
common property
;
scarcity rent
;
rent dissipation
;
Common Fisheries Policy
Source:
Springer Online Journal Archives 1860-2000
Topics:
Energy, Environment Protection, Nuclear Power Engineering
,
Economics
Notes:
Abstract Open access resources are frequently not managed efficiently, resulting in falling stock levels and a declining income for fishermen. In the late 1970's, the policy response to this problem was the implementation of 200-mile fishing zones, which enabled the European Union to formulate and implement the Common Fisheries Policy, aimed at (among other things) conservation and distribution of available stocks. In Germany, this shift from an open access regime towards a common property regime had favourable outcomes. The trend of falling prices was reversed. The conclusion was that intertemporal efficiency had increased as a result of (inter)governmental policy. Apparently, a wedge was formed between price and marginal harvesting costs, implying that scarcity rent had returned as a component of prices.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF00691816
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