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| Author: | Costello, C. J. Kaffine, D. |
| Title: | Natural resource use with limited-tenure property rights |
| Journal: | Journal of Environmental Economics and Management
2008 : JAN, VOL. 55:1, p. 20-36 |
| Index terms: | natural resources property rights renewable resources contracts Mexico |
| Language: | eng |
| Abstract: | The paper examines the dynamic harvest incentives that a renewable resource harvester with insecure property rights encounters. The harvester receives a resource "concession" for a fixed duration. The concession is renewed if the harvester reaches a target stock. Even though the property rights are insecure, it is possible to design simple concessions contracts to generate first best harvest trajectories. The effects of economic, ecological and institutional variables on the contracts are analyzed, and the theoretical insights are applied to two concessions-managed fisheries in Baja California, Mexico. |
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