The triple bottom line: Meeting ecological, economic and social goals with Individual Transferable Quotas
Luc Doyen (),
Rich Little and
Cahiers du GREThA (2007-2019) from Groupe de Recherche en Economie Théorique et Appliquée (GREThA)
This paper deals with the sustainable management of a renewable resource based on individual and transferable quotas (ITQs) when agents differ in terms of harvesting costs or catching capabilities. In a dynamic bio-economic model, we determine the feasibility conditions under which a fishery manager can achieve sustainability objectives which simultaneously account for stock renewal, economic efficiency and maintenance of fishing activity for the agents along time. We show that the viability of quota management strategies based on fixing Total Allowable Catch (TAC) limits depends on the degree of heterogeneity of users in the fishery, the current status and the dynamics of the stock. In particular for a given stock, we compute the maximin effort for a given set of agents and we derive the maximal number of active agents for a given guaranteed effort. An application to the nephrops fishery in the Bay of Biscay illustrates the results.
Keywords: Renewable resource; Sustainability; Total allowable catch; Individual and transferable quotas, maximin, feasibility set (search for similar items in EconPapers)
JEL-codes: Q22 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa and nep-env
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Journal Article: The triple bottom line: Meeting ecological, economic and social goals with individual transferable quotas (2012)
Working Paper: The triple bottom line: Meeting ecological, economic and social goals with individual transferable Quotas (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:grt:wpegrt:2011-01
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