Economic Analysis of New Zealand's Deemed Value System

摘要: In 2001, New Zealand modified its quota management system (QMS) to function as a hybrid ITQ/tax system. Catches in excess of annual catch entitlements (ACE) incur payments, called “deemed values”. The deemed value was part the reforms that separated ACE from quota, which reduced transactions costs for both industry and government. However, introduces some new issues, this paper addresses those problems practical theoretical perspectives. This will explain balancing regime used prior values, with It then mechanics issues A core problem is limited information available large proportion 629 stocks managed QMS, so setting values inherently imprecise. examine how economic theory, such Arnarson’s minimum management, might be applied process values.