Advances in Fisheries Economics

Dr. Trond Bjørndal is Professor of Economics, Centre for Fisheries Economics, Institute for Research in Economics and Business Administration, Bergen, Norway and Director, CEMARE, University of Portsmouth, England.Dr. Daniel V. Gordon is Professor of Economics, University of Calgary, Canada and Distinguished Research Fellow, Centre for Fisheries Economics, Institute for Research in Economics and Business Administration, Bergen, NorwayDr. Ragnar Arnason is Professor of Economics and the Chairman of the Institute of Economic Studies, University of Iceland.Dr. U. Rashid Sumaila is Director of the Fisheries Economics Research Unit, Fisheries Centre, University of British Columbia.

Another truly global cooperation, this is an up to the minute review of the latest developments in fisheries economics by thirty of the world's most prominent academic economists whose work focuses on fisheries.Work Boat World, December 2007

• Preface viiAcknowledgements viiiTabula Gratulatoria xChapter 1 On the Contributions of Professor G.R. Munro to Economics 1T. Bjørndal and D.V. GordonSection 1 Property Rights and Fisheries ManagementChapter 2 Phases in the Evolution of Property in Sea Fisheries 17A. ScottChapter 3 Property Rights Quality and the Economic Efficiency of Fisheries Management Regimes: Some Basic Results 32R. ArnasonChapter 4 Resolving the Class II Common Property Problem: The Case of the BC Groundfish Trawl Fishery 59R.Q. Grafton, H.W. Nelson and B. TurrisChapter 5 Auctions of IFQs as a Means to Share the Rent 74D.D. HuppertChapter 6 Shadow Prices for Fishing Quotas: Fishing with Econometrics 87D. Dupont and D.V. GordonSection 2 Capital Theory and Natural ResourcesChapter 7 Rational Expectations and Fisheries Management 109C.W. ClarkChapter 8 Linking Natural Capital and Physical Capital: A Review of Natural Resource Investment Models 119A. CharlesChapter 9 Fisheries Management with Stock Uncertainty and Costly Capital Adjustment 137M. Doyle, R. Singh and Q. WeningerSection 3 Game Theory and International FisheriesChapter 10 The Incomplete Information Stochastic Split-Stream Model: An Overview 159R. McKelvey, P.V. Golubtsov, G. Cripe and K.A. MillerChapter 11 Coalition Games in Fisheries Economics 184M. Lindroos, V. Kaitala and L.G. KronbakChapter 12 Incentive Compatibility of Fish-Sharing Agreements 196R. HannessonChapter 13 Fish Stew: Uncertainty, Conflicting Interests and Climate Regime Shifts 207K.A. MillerChapter 14 A Dynamic Gameon Renewable Natural Resource Exploitation and Markov Perfect Equilibrium 222S. KobayashiSection 4 Applied Fisheries Economics and ManagementChapter 15 The Roleof the Fishing Industry in the Icelandic Economy 239S. Agnarsson and R. ArnasonChapter 16 Factor Use and Productivity Change in a Rights-Based Fishery 257B.M.H. Sharp and C. BatstoneChapter 17 Scientific Uncertainty and Fisheries Management 270W.E. Schrank and G. PontecorvoChapter 18 Spatial-Temporal Assessment Analysis with Application to the Scotia-Fundy Herring Fishery 283D.E. LaneAuthors 304Index 305