Don't Leave the Regulator Alone in the Commons: How Fishing Cooperatives Can Help Ameliorate Inefficiencies

Juan Rosas-Munoz (), Ana Espinola-Arredondo and Felix Munoz-Garcia
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Juan Rosas-Munoz: University of Nottingham, Postal: Departamento de Economia y Finanzas, Universidad del Bio-Bio, Chile, https://sites.google.com/view/juan-rosas

No 2022-1, Working Papers from School of Economic Sciences, Washington State University

Abstract: This paper examines a common-pool resource where quotas and fines are set by a regulator, an artisanal organization (cooperative), or both. We analyze the interaction between the policies of both regulatory agencies under an inflexible policy regime, where quotas and fines can be revised across periods, and under an inflexible policy regime, where they cannot. We show that inefficiencies arise in the inflexible regime, but they are eliminated when the two agencies coexist. We then extend our model to a setting where regulator and artisanal organization have misaligned preferences, demonstrating that both agencies are still preferable when the stock regenerates rapidly, but a single agency is preferable otherwise.

Keywords: Common-pool resource; regulation; artisanal organization; flexible policy; inflexible policy; inefficiencies (search for similar items in EconPapers)
JEL-codes: H23 L13 Q50 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2022-01-17
New Economics Papers: this item is included in nep-env and nep-reg
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