Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management
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We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not fixed
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美国国家经济研究局创建时间：
2010-11-01
