One Last Chance: The Economic Case for a New Approach to Fisheries Management in New England

Documents the decline of the New England fishing industry as a result of mismanagement, presents examples of successful and sustainable fisheries, and examines the viability of proposed community-based, fishermen-run cooperatives as a solution

CHALLENGES OF MARINE BIODIVERSITY

Resource /Energy Economics and Policy,

Stochastic Bioeconomics: A Review of Basic Methods and Results

Basic bioeconomic models which incorporate uncertainty are reviewed to show and compare the principal methods used and results reported in the literature. Beginning with a simple linear control model of stock uncertainty, we proceed to discuss more complex models which explicitly recognize risk preferences, firm and industry behavior, and market price effects. The effects of uncertainty on the results of bioeconomic analysis are rarely unambiguous, and in some instances differ little from corresponding deterministic results. This review is presented to enhance readers' appreciation of the papers to follow in this and the next issue of the journal.Environmental Economics and Policy, International Development, Resource /Energy Economics and Policy, Risk and Uncertainty,

A Laboratory Assessment of Tradable Fishing Allowances

Transferable allowance management systems are receiving increased attention from fishery managers and stakeholders alike. We use a laboratory experiment in which human subjects play the role of fishers to evaluate the promised economic efficiency of tradable allowance systems. In an experiment designed to parallel the most common rules for trading allowances, we find that allowance prices are only weakly associated with the value of the fishing right it provides. Instead, we find a high degree of price variability, consistent with field experiences. In the lab, this variability hampers convergence and supports speculation, leading to average prices much higher than the equilibrium value of allowances. During this protracted price discovery, allowances are misallocated and efficiency falls. Modifications to the market institutions used in most tradable allowance systems to improve price discovery and enhance efficiency are discussed.fishery management, ITQs, tradable fishing rights, transferable allowances, experiments, asset markets, Resource /Energy Economics and Policy, Q22, Q28, G12,

A New Zealand ITQ Fishery with an In-Season Stock Externality

Abstract This paper explores the economic performance of a fishery that operates under an individual transferable quota (ITQs) management system and that is subject to an in-season stock externality. While Boyce (1992) and others have established theoretically that ITQ management is not fully efficient under all conditions, this is the first study that empirically estimates the efficiency losses due to an in-season stock externality in an actual fishery. We study the New Zealand southern scallop fishery, which has been under ITQ management since 1992. Our analysis provides evidence of a race-to-fish in the fishery, and estimates that individual firm profits were approximately $2,300 and$2,000 (20% and 10%) less in 1996 and 1997, respectively, than they would have been under optimal management. We recommend modifications in the ITQ policy to improve the economic performance of the fishery.Fisheries management, individual quotas, stock depletion, New Zealand, scallops., Livestock Production/Industries, Q220, Q280, Q570, Q580,

The Effects of Thiazolidinediones on Metabolic Complications and Lipodystrophy in HIV-Infected Patients

Highly active antiretroviral therapy (HAART)-associated metabolic complications include lipoatrophy (loss of subcutaneous adipose tissue (SAT)) and insulin resistance. Thiazolidinediones are insulin-sensitizing antidiabetic agents which—as an untoward side effect in obese diabetic patients—increase SAT. Furthermore, troglitazone has improved lipoatrophy and glycemic control in non-HIV patients with various forms of lipodystrophy. These data have led to 14 clinical trials to examine whether thiazolidinediones could be useful in the treatment of HAART-associated metabolic complications. The results of these studies indicate very modest, if any, effect on lipoatrophic SAT, probably due to ongoing HAART negating the beneficial effect. The benefit might be more prominent in patients not taking thymidine analoges. Despite the poor effect on lipoatrophy, thiazolidin-ediones improved insulin sensitivity. However, especially rosiglitazone induced harmful effects on blood lipids. Current data do not provide evidence for the use of thiazolidinediones in the treatment of HAART-associated lipoatrophy, but treatment of lipoatrophy-associated diabetes may be warranted. The role of thiazolidinediones for novel indications, such as hepatosteatosis, should be studied in these patients

Understanding Finnish football consumers’ behavior through fan involvement

Objectives The main objective of this study was to identify meaningful differences among Finnish football consumers with different levels of fanaticism. The objectives also included the exploration of different aspects and motives that make consumers buy merchandise, attend matches, or recommend the team. The thesis also provides a framework that attempts to explain the consumers’ intended fan behavior. Summary Sport consumers and football fans have been studied in numerous research, but less research has been conducted in Finland. Previous literature has identified that different types of fans have varying behavior and motives, but involvement is often characterized as the defining aspect. The conceptual framework was developed based on this notion and tested with an online questionnaire. The results reported significant differences between more and less involved fans and between fans that supported Finnish teams and non-Finnish teams. Conclusions The level of involvement was found to be significant predictor for intended fan behavior. In addition to this, the model where SPEED facets were added as mediator variable was also found significant as there was partial mediation. Moreover, the research found differences between Finnish fans that support local teams and teams from abroad

Account bank’s obligation to enable access to their customers’ account data and authentication procedures under the Payment Service Directive 2 : its relation to refusal to supply data and access to procedure

The Payment Services Directive 2 (PSD2) introduces novel obligations for the account servicing payment service providers (i.e. account banks) to enable access to their customers’ account data, when such access is explicitly consented by the customer, unless a refusal to enable such access is justified. Further, the account banks have an obligation to allow third-party payment service providers to utilize authentication procedures, which are provided by the account banks. Jointly, these obligations may be described as “access obligations”, either to data or procedure. The PSD2 reform and in particular its access obligations directed the account banks are expected to be significant for the payment services market requiring the account banks to implement new business models in order to comply with the PSD2. When the account banks are subject to these novel supply obligations, and the payment service market will be opened for the new kinds of payment service providers, this may also facilitate the possible abusive behavior amongst the account banks from a competition law perspective. As seen in the Commission’s investigations with respect to several account banks refusing to grant access to their customer account data even before the PSD2, the refusal to supply considerations under Article 102 TFEU are possible in this context. The questions underlying in this setting are examined in the thesis, such as whether the account banks’ refusal to supply access to their customers’ account data and authentication procedures constitutes an abuse of dominant position as a refusal to supply under Article 102 TFEU even if such refusal would be justified under the PSD2. Ultimately, the discussion concerns the interaction between competition law and the PSD2 and which assessment should prevail. As a prerequisite for the assessment of the PSD2 obligations under the refusal to supply doctrine, such doctrine is assessed generally in a data context. With respect to the refusal to supply data, the assessment requires analyzing the market dynamics. The definition of dominance in data-driven markets requires shifting the emphasis from the market shares to the characteristics of the market and the exclusivity of data. The aspect of exclusivity is closely held with the debate on the essentiality or indispensability of data having also relevance when defining the actual abuse of dominance. However, the considerations on the essentiality of data are limited only to forced data sharing without a regulatory duty to supply. This means that the Commission is forcing an undertaking to share its data solely based on the doctrine under Article 102 TFEU and thus is required to prove the abuse-specific criteria on the refusal to supply. With respect to regulatory duties to supply, the Commission will consider only the likelihood of anti-competitive foreclosure in its refusal to supply assessment. This burden of proof may be seen lower than compared to the traditional refusal to supply data test that requires to prove, for instance, the indispensability of data, which may be met only in exceptional situations. In the PSD2 context, the payment service market has its specialties, which need to be taken into consideration in the refusal to supply assessment. As a result of the equivalent supply obligation for all account banks, market shares may have more relevance in the dominance assessment. The problem is that access to all account banks’ data may be considered as essential, when account information or payment initiation services may not function properly without this access. Further, the PSD2 access obligations are regulatory duties due to which the element of indispensability is not required to be considered in the abuse assessment. If the account bank refuses to provide access to the account data for the third-party payment service providers, it is likely that such refusal will eliminate competition from payment initiation and account information service markets. Thus, the account banks’ refusal to supply access to their customers’ account data and authentication procedures may constitute an abuse of dominant position as a refusal to supply under Article 102 TFEU. In contrast, the compliance with the PSD2, for instance with respect to justified refusal, does not entail that such conduct is also compliant with competition law. However, justified refusal under the PSD2 should not trigger Article 102 TFEU and in these situations the PSD2 should prevail over competition law. The supply obligations beyond the PSD2 may be addressed solely under Article 102 TFEU and the refusal to supply-specific assessment requiring the indispensability of input, whether either data or data processing system. From a practical perspective, the account banks have addressed the PSD2 access obligations by creating an open banking system and cooperating with the FinTech companies. Further, some account banks will grant the access beyond the PSD2 obligations. The system of open banking may, however, imply competition law problems with respect to refusal to supply and other types of Article 102 TFEU abuses. However, the actual effect of the PSD2 and its implications to competition will be seen, when the transition period of the PSD2 ends on 14 September 2019 and the novel market practice will commence to evolve

Narratives Countering the Democratising Ideal of Discourse in an Online Forum of a Higher Education Institution

This paper describes power inequalities among participants in an online forum at a higher education institution in South Africa. Critical poststructuralist theory informs the study as it investigates how hegemony influences the strategic interaction of participants. An interpretive analysis uncovered elements of a cyclic process of intensified exclusion, inequality and oppression. This took place within a virtual space which is theoretically idealized as an equalizer and promoter of freedom of speech. The process involved in the eliciting of voices is described and the interpretation of subjective accounts tells of the disillusioned experiences of a potential liberating form of technology. Instead of alleviating conflict, the potential of the online forum is subverted and intensifies the alienation of and animosity between participants. Proposals for moderation are made to change the forum to a democratic, inclusive space