Property Rights in a Fishery: Regulatory Change and Firm Performance

Kevin Fox, R. Quentin Grafton, James Kirkley and Dale Squires
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James Kirkley: Virginia Institute of Marine Science
Dale Squires: U.S. National Marine Fisheries Service

Economics and Environment Network Working Papers from Australian National University, Economics and Environment Network

Abstract: A new method is introduced and applied to analyse changes in productivity of firms harvesting a natural capital stock. The index-number technique decomposes the contributions of output prices, variable input prices, fixed inputs and productivity to firm profits, adjusted for changes in the natural capital stock. An application of the method is given using micro-level data from a common-pool resource. The indexes provide a ready-made comparison of all firms to the most profitable firm per unit of resource stock. Benchmarking with the decompositions also allows firms and regulators to determine what components are contributing most to economic profits and improve overall industry performance.

Keywords: productivity; profits; natural capital; index numbers (search for similar items in EconPapers)
JEL-codes: C43 D23 Q22 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2002-02
New Economics Papers: this item is included in nep-agr, nep-eff, nep-mic and nep-res
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Journal Article: Property rights in a fishery: regulatory change and firm performance (2003)
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