The effect of common property on the optimal structure of the fishing industry
1989
Lipton, D.W. | Strand, I.E. Jr
This paper extends previous fisheries models by generalizing the necessary and sufficient conditions under which coexistence of specialized and generalized vessels occurs in a multi-species fishery. Economies of scope and demand conditions are argued to dictate coexistence. Inefficiency in market structure is also shown to arise with an inappropriate property rights regime.
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