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| Author: | Hatcher, A. |
| Title: | Non-compliance and the quota price in an ITQ fishery |
| Journal: | Journal of Environmental Economics and Management
2005 : MAY, VOL. 49:3, p. 427-436 |
| Index terms: | demand fishing industry prices |
| Language: | eng |
| Abstract: | This article investigates the effects of non-compliance on quota demand and the equilibrium quota price in an ITQ fishery. It is shown that whereas lower quota prices are implied unambiguosly by expected penalties which are a function of the absolute violation size, the expectation of penalties based upon relative violations of quota demands can, under certain conditions, produce higher quota prices than in a compliant quota market. |
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