Ownership of Renewable Ocean Resources

Much of the recent fisheries economics literature promotes usufructuary rights policies to lessen the dissipation of resource rents. However, this literature does not count institutional inefficiencies which result from rent-seeking and the principal-agent problem when a centralized government controls access to renewable ocean resources. As a result, the efficiency of usufructuary rights programs, including ITQs, throughout the economy could be exaggerated. From a dynamic standpoint, though, usufructuary rights policies remain an important avenue for residual claimants to contract for less attenuated institutions of common or private property rights. These conclusions are drawn from a survey of the property rights and public choice literatures.U.S. fisheries, fisheries management, open access, common pool resources, property rights, economic efficiency, rent-seeking, principal-agent problem, common property, self-governance, private property, Environmental Economics and Policy, Resource /Energy Economics and Policy,

ETHICAL PREFERENCES AND THE ASSESSMENT OF EXISTENCE VALUES: DOES THE NEOCLASSICAL MODEL FIT?

Some of the implications of ethical preferences for traditional welfare analyses of existence values are discussed in this paper and illustrated with a lexicographic model for preference structures. Although willingness-to-pay and willingness-to-sell are well-defined, their connection with Hicksian surpluses is lost when a person is motivated by an ethical commitment to others welfare. Researchers need to expand contingent valuation methods to collect information on underlying motives and types of preferences in order to identify respondents who fit the neoclassical model of egoistic man.Institutional and Behavioral Economics,

RENT-SEEKING AND PROPERTY RIGHTS FORMATION IN THE U.S. ATLANTIC SEA SCALLOP FISHERY

This paper chronicles rent-seeking in the U.S. Atlantic sea scallop fishery, including its influence on property rights formation. Decades of lobbying by the U.S. fishing industry against foreign fishing and seafood imports caused Congress to extend federal jurisdiction to 200 miles in 1977. Scallop fishermen initially earned high profits for their efforts, but by about 1990 the overcapitalized fishery was surviving on new year classes. Limited access and a stock rebuilding program were introduced in 1994, but an asymmetric distribution of potential gains in favor of relatively few, multi-permit companies has preoccupied public debate on the transferability and consolidation of fishing rights. Rent-seeking by the limited-access permit holders is now also focused on claims by the growing open-access sector of the scallop fishery, groundfish bycatch limitations, and gear-induced habitat damage, which has drawn lawsuits from environmental organizations.Resource /Energy Economics and Policy,

ON ESTIMATING HOUSEHOLD DEMAND FOR OUTDOOR RECREATION FROM PROPERTY VALUES: AN EXPLORATION

This paper explores how hedonic price analysis might be used to estimate the surplus benefits of local outdoor recreation when distance to the recreational site is captured in property values. The model is characterized by the endogenous choice of distance to a local recreational area by households in coastal property markets and by the capitalization of proximity in property values. Equilibrium occurs when the reduction in the cost of a property due to a marginal increase in distance to the recreational area equals the associated loss in recreational surplus resulting from increased travel costs. The theoretical model is applied in an exploratory analysis of the "demand" for distance to the nearest public beach from which total surplus benefits are estimated.Resource /Energy Economics and Policy,

On Estimating Compensation for Injury to Publicly Owned Marine Resources

It is well established that the public has the right to use certain marine resources, including fish stocks, beaches, and marine waters, for certain purposes, including recreational fishing. Rights in public resources are held "in trust" by federal and state governments for the public, both now and in the future. Given public rights, we not only argue that minimum willingness-to-accept-compensation (WTA) is the theoretically correct measure of economic damages when a publicly owned marine resource is injured, but that it is, in fact, feasible to measure WTA, and therefore, WTA should be used to estimate compensation. Two utility-theoretic approaches for welfare analysis, which use Hausman's (1981) method and the contingent valuation method, are outlined.willingness-to-accept-compensation, natural resource damages, marine pollution, recreational fishing, contingent valuation method, public trust doctrine, Demand and Price Analysis, Environmental Economics and Policy, Public Economics, Resource /Energy Economics and Policy,

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Nurturing The Culture To Ensure Success For All

With the constant pressure of high stakes testing and new achievement standards the culture of a school can be compromised. This session will focus on specific strategies and techniques that can be implemented to keep the child first while at the same time enhancing student academic achievement. Participants will walk away with ideas that they can immediately implement in their classrooms and schools

Experiencing the Meaning of Exercise

No Abstract.Indo-Pacific Journal of Phenomenology, Volume 2, Edition 2 September 200

OFFLU Network on Avian Influenza

OFFLU is the name of the network of avian influenza expertise inaugurated jointly in 2005 by the Food and Agriculture Organization of the United Nations and the World Organisation for Animal Health. Achievements and constraints to date and plans for the future are described