Productivity Measurement in Common Property Resource Industries: An Application to the Pacific Coast Trawl Fishery

Dale Squires

RAND Journal of Economics, 1992, vol. 23, issue 2, 221-236

Abstract: This article measures total factor productivity in industries that exploit resources held in common. Particular attention is paid to the valuation and specification of in situ common-property resources in a neoclassical production technology, catchability of the resource, and variations in economic capacity utilization. An empirical analysis of the open-access Pacific coast trawl fishing industry demonstrates that disentangling the productivity residual from changes in resource abundance, its catchability, and variations in capacity utilization hones the productivity residual to finer precision, lowering mean productivity growth by about half. Removing biological noise from highly variable resources is also important. The results are related to a program limiting the number of vessels and can contribute to sustainable resource management whenever resources are held in common.

Date: 1992
References: Add references at CitEc
Citations: View citations in EconPapers (33)

Downloads: (external link)
http://links.jstor.org/sici?sici=0741-6261%2819922 ... O%3B2-A&origin=repec full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rje:randje:v:23:y:1992:i:summer:p:221-236

Ordering information: This journal article can be ordered from
https://editorialexp ... i-bin/rje_online.cgi

Access Statistics for this article

More articles in RAND Journal of Economics from The RAND Corporation
Bibliographic data for series maintained by ().