Controlling excess capacity in common-pool resource industries: The transition from input to output controls

Quentin Grafton, Dale Squires, Yongil Jeon, James Kirkley

    Research output: Contribution to journalArticle

    Abstract

    Overcapacity is a major problem in common-pool resources. Regulators increasingly turn from limited entry to individual transferable use rights to address overcapacity. Using individual vessel data from before and after the introduction of individual harvest rights into a fishery, the paper investigates how characteristics of rights, scale of operations and transition period affect changes in individual and fleet capacity utilisation and excess capacity. The results indicate that individual harvest rights in both theory and practice offer the potential to address the problem of overcapacity in common-pool resources currently managed with limited-entry regulations.
    Original languageEnglish
    Pages (from-to)361-377
    JournalAustralian Journal of Agricultural and Resource Economics
    Volume54
    Issue number3
    DOIs
    Publication statusPublished - 2010

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