From open-access to individual quotas: Disentangling the effects of policy reform and environmental changes in the Norwegian coastal cod fishery

Arbeitspapier

Understanding the effect of introducing property rights to natural resources is central in economics, but empirical analysis is frustrated by the complexity of socioecological systems. We construct a detailed bio-economic model of the Norwegian coastal cod fishery, which was closed after 1989, to isolate the effect of environmental variability. We project stock and harvest forward in the counterfactual scenario of no intervention, showing that the policy had only a small positive impact on stock biomass, but a pronounced positive effect on profits. The main driver, uncovered by index-number decomposition, is savings in fuel and labor costs.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Memorandum ; No. 07/2014

Classification and Topics

• Classification: Wirtschaft ; Index Numbers and Aggregation; Leading indicators ; Organizational Behavior; Transaction Costs; Property Rights ; Renewable Resources and Conservation: Fishery; Aquaculture ; Renewable Resources and Conservation: Government Policy
• Subject: Open access ; Property rights ; Quasi-experiment ; Counterfactual control ; Bio-economic modeling ; Productivity ; North-East Arctic cod

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Diekert, Florian ; Lund, Kristen ; Schweder, Tore
• Event: Veröffentlichung
• (who): University of Oslo, Department of Economics
• (where): Oslo
• (when): 2014

Further information

• Handle: http://hdl.handle.net/10419/102059
• Last update: 10.03.2025, 11:42 AM CET