Market information and fisheries management: Improving efficiency in private property right management systems

TL;DRAbstract

Fisheries economics concentrates on solving the problem of economic overexploitation in fisheries. The field took its first steps, as a specialized study area within economics, in the early 1950s. The approach since then, for solving the problem of overexploitation, has mostly been one of neo-classical economics, with emphasis on the production side of the problem. A potential solution to the overexploitation problem is the privatization of fisheries in order to maximize long-term economic benefits. Recent studies have shown that prices and certain product characteristics are an important factor for determining the optimal management of fisheries. This study tries to establish a methodological approach to incorporate information on prices, characteristics and environmental quality into fisheries management. The study uses exports of cod fillets by Iceland to the United States as a case study for exploring import demand for specific products, and how import demand might feed back into t

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