Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/102059
Authors: 
Diekert, Florian
Lund, Kristen
Schweder, Tore
Year of Publication: 
2014
Series/Report no.: 
Memorandum, Department of Economics, University of Oslo 07/2014
Abstract: 
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.
Subjects: 
Open access
Property rights
Quasi-experiment
Counterfactual control
Bio-economic modeling
Productivity
North-East Arctic cod
JEL: 
C43
D23
Q22
Q28
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.