Public and private management of renewable resources: Who gains, who loses?

Arbeitspapier

Renewable resources provide society with resource rent and surpluses for resource users (the processing industry, consumers) and owners of production factors (capital and labor employed in resource harvesting). We show that resource users and factor owners may favor inefficiently high harvest rates up to open-access levels. This may explain why public resource management is often very inefficient. We further show that privatizing inefficiently managed resources would cause losses for resource users and factor owners, unless (a) the stock is severely depleted and (b) the discount rate is low. We quantify our results for the Northeast Arctic Cod fishery

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Economics Working Paper ; No. 2012-02 [rev.]

Classification and Topics

• Classification: Wirtschaft ; Renewable Resources and Conservation: Government Policy ; Factor Income Distribution ; Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior ; Ecological Economics: Ecosystem Services; Biodiversity Conservation; Bioeconomics; Industrial Ecology
• Subject: resource rent ; consumer surplus ; worker surplus ; distribution ; political economy

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Quaas, Martin F. ; Stoeven, Max T.
• Event: Veröffentlichung
• (who): Kiel University, Department of Economics
• (where): Kiel
• (when): 2013

Further information

• Handle: http://hdl.handle.net/10419/88417
• Last update: 10.03.2025, 11:42 AM CET