Loss of economic rents in the global fishery

摘要: Most of the world’s ocean fisheries are severely lacking in private property rights underlying natural resources or their close complements (e.g. harvesting volume). Therefore, according to standard theory, these should be highly wasteful potential economic rents from resources. The question is whether this loss can empirically verified and, if so, how large it is. This paper explains concept and develops analytical theory rents. Building on utilizing global data, proceeds estimate a model, obtain numerical estimates rent capture provide reasonable confidence bounds for loss. It found that constitutes almost certainly fraction landed value landings. mean well over 50%