Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management
Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management
复制标题
基于权利的渔业管理中祖父法的效率优势
DOI:
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发表时间:
2010
期刊:
影响因子:
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通讯作者:
T. Anderson
中科院分区:
文献类型:
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作者:
G. Libecap;R. Arnason;T. Anderson
We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not fixed in situ but rather depend additionally upon the innovation, investment, and collective actions of fishers, who discover and enhance stocks and convert them into valuable goods and services. Our analysis shows how grandfathering increases rents by raising expected rates of return for investment, lowering the cost of capital, and providing incentives for collective action.