Chapter 5 - Assignment 2: Markets and Ocean Fisheries
Chapter 5 - Assignment 2: Markets and Ocean Fisheries
Read: "The Common Pathologies
of Overfishing" by John A. Baden.
- In the absence of government regulation, do individuals possess property rights to fish
in the ocean?
- Why are many ocean fisheries experiencing significant declines in the harvest of fish?
Is this problem related to the existence of property rights?
- Why would a quota on the total catch in a fishery or shortened fishing seasons lead to
too much investment in capital and an inefficient use of resources?
- Would the use of individual transferable permits (as discussed in your text on p. 115) result in a
more efficient outcome? Explain.
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