The dynamic efficiency costs of common-pool resource exploitation

American Economic Review

Volumn 104, Issue 12, 2014, Pages 3991-4026

  Huang, Ling ^a   Smith, Martin D ^b  

^a UNIVERSITY OF CONNECTICUT   (United States)

^b DUKE UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84916899211     PISSN: 00028282     EISSN: 19447981     Source Type: Journal    
DOI: 10.1257/aer.104.12.4071     Document Type: Article

References (58)

1. Aguirregabiria, Victor. 1999. "The Dynamics of Markups and Inventories in Retailing Firms." Review of Economic Studies 66 (2): 275-308.
2. Aguirregabiria, Victor, and Pedro Mira. 2002. "Swapping the Nested Fixed Point Algorithm: A Class of Estimators for Discrete Markov Decision Models." Econometrica 70 (4): 1519-43.
3. Aguirregabiria, Victor, and Pedro Mira. 2007. "Sequential Estimation of Dynamic Discrete Games." Econometrica 75 (1): 1-53.
4. Aguirregabiria, Victor, and Pedro Mira. 2010. "Dynamic Discrete Choice Structural Models: A Survey." Journal of Econometrics 156 (1): 38-67.
5. Asche, Frank, Lori S. Bennear, Atle Oglend, and Martin D. Smith. 2012. "U.S. Shrimp Market Integration." Marine Resource Economics 27 (2): 181-92.
6. Bajari, Patrick, C. Lanier Benkard, and Jonathan Levin. 2007. "Estimating Dynamic Models of Imperfect Competition." Econometrica 75 (5): 1331-70.
7. Bajari, Patrick, Victor Chernozhukov, Han Hong, and Denis Nekipelov. 2009. "Nonparametric and Semiparametric Analysis of a Dynamic Discrete Game." http://web.stanford.edu/-doubleh/papers/newdynamicgames-03-2009.pdf (accessed October 6, 2014).
8. Bajari, Patrick, Han Hong, John Krainer, and Denis Nekipelov. 2010. "Estimating Static Models of Strategic Interaction." Journal of Business and Economic Statistics 28 (4): 469-82.
9. Baland, Jean-Marie, and Jean-Philippe Platteau. 2003. "Economics of Common Property Management Regimes." In Handbook of Environmental Economics, Vol. 1, edited by Karl-Göran Mäler and Jeffrey R. Vincent, 127-90. Amsterdam: Elsevier North-Holland.
10. Berck, Peter, and Jeffrey M. Perloff. 1984. "An Open-Access Fishery with Rational Expectations." Econometrica 52 (2): 489-506.
11. Bjorndal, Trond, and Jon M. Conrad. 1987. "The Dynamics of an Open Access Fishery." Canadian Journal of Economics 20 (1): 74-85.
12. Boyce, J. R. 1992. "Individual Transferable Quotas and Production Externalities in a Fishery." Natural Resource Modeling 6 (4): 385-408.
13. Brander, James A., and M. Scott Taylor. 1998. "The Simple Economics of Easter Island: A Ricardo-Malthus Model of Renewable Resource Use." American Economic Review 88 (1): 119-38.
14. Chen, Xiaohong. 2007. "Large Sample Sieve Estimation of Semi-Nonparametric Models." In Handbook of Econometrics, Vol. 6B, edited by James J. Heckman and Edward E. Leamer, 5549-5632. Amsterdam: Elsevier.
15. Clark, Colin W. 1990. Mathematical Bioeconomics: The Optimal Management of Renewable Resources. New York: Wiley-Interscience.
16. Dasgupta, P. S., and G. M. Heal. 1979. Economic Theory and Exhaustible Resources. Cambridge, UK: Cambridge University Press.
17. Dawes, Robyn M. 1973. "The Commons Dilemma Game: An N-person Mixed-motive Game with a Dominating Strategy for Defection." Oregon Research Institute Research Bulletin 13: 1-12.
18. Dichmont, C. M., S. Pascoe, T. Kompas, A. E. Punt, and R. Deng. 2010. "On Implementing Maximum Economic Yield in Commercial Fisheries." Proceedings of the National Academy of Sciences 107(1): 16-21.
19. Dixit, Avinash. 1989. "Entry and Exit Decisions under Uncertainty." Journal of Political Economy 97(3): 620-38.
20. Ellickson, Paul B., and Sanjog Misra. 2012. "Enriching Interactions: Incorporating Outcome Data into Static Discrete Games." Quantitative Marketing and Economics 10 (1): 1-26.
21. Gordon, H. Scott. 1954. "The Economic Theory of a Common-Property Resource: The Fishery." Journal of Political Economy 62 (2): 124-42.
22. Hannesson, Rögnvaldur. 1997. "Fishing as a Supergame." Journal of Environmental Economics and Management 32 (3): 309-22.
23. Hardin, Garrett. 1968. "The Tragedy of the Commons." Science 162 (3859): 1243-48.
24. Homans, Frances R., and James E. Wilen. 1997. "A Model of Regulated Open Access Resource Use." Journal of Environmental Economics and Management 32 (1): 1-21.
25. Hotz, V. Joseph, and Robert A. Miller. 1993. "Conditional Choice Probabilities and the Estimation of Dynamic Models." Review of Economic Studies 60 (3): 497-529.
26. Hotz, V. Joseph, Robert A. Miller, Seth Sanders, and Jeffrey Smith. 1994. "A Simulation Estimator for Dynamic Models of Discrete Choice." Review of Economic Studies 61 (2): 265-89.
27. Huang, Ling, and Martin D. Smith. -2014. "The Dynamic Efficiency Costs of Common-Pool Resource Exploitation: Dataset." American Economic Review. http://dx.doi.org/10.1257/aer.104.12.4071.
28. Johnson, Ronald N., and Gary D. Libecap. 1982. "Contracting Problems and Regulation: The Case of the Fishery." American Economic Review 72 (5): 1005-22.
29. Karlstrom, Anders, Marten Palme, and Ingemar Svensson. 2004. "A Dynamic Programming Approach to Model the Retirement Behaviour of Blue-Collar Workers in Sweden." Journal of Applied Econometrics 19 (6): 795-807.
30. Kirkley, James, Catherine J. Morrison Paul, and Dale Squires. 2002. "Capacity and Capacity Utilization in Common-pool Resource Industries." Environmental and Resource Economics 22 (1-2):71-97.
31. Levhari, David, and Leonard J. Mirman. 1980. "The Great Fish War: An Example Using a Dynamic Cournot-Nash Solution." Bell Journal of Economics 11 (1): 322-34.
32. Libecap, Gary D., and Steven N. Wiggins. 1984. "Contractual Responses to the Common Pool: Prorationing of Crude Oil Production." American Economic Review 74 (1): 87-98.
33. Linde-Rahr, Martin. 2003. "Property Rights and Deforestation: The Choice of Fuelwood Source in Rural Vietnam." Land Economics 79 (2): 217-34.
34. Mendelsohn, Robert O. 1994. "Property Rights and Tropical Deforestation." Oxford Economic Papers 46: 750-56.
35. National Data Buoy Center. 1994-2005. "Southeast USA Historical Marine Data." http://www.ndbc.noaa.gov/maps/southeast-hist.shtml (accessed February 9, 2009)..
36. NCDENR-DMF. 2006. "North Carolina Fishery Management Plan: Shrimp." Division of Marine Fisheries Report.
37. NOAA. 2010. "NOAA Catch Share Policy." National Oceanic and Atmospheric Administration Report. Ostrom, Elinor. 1990. Governing the Commons: The Evolution of Institutions for Collective Action. Cambridge, UK: Cambridge University Press.
38. Poteete, Amy R., and Elinor Ostrom. 2008. "Fifteen Years of Empirical Research on Collective Action in Natural Resource Management: Struggling to Build Large-N Databases Based on Qualitative Research." World Development 36 (1): 176-95.
39. Provencher, Bill, and Oscar Burt. 1993. "The Externalities Associated with the Common Property Exploitation of Groundwater." Journal of Environmental Economics and Management 24 (2): 139-58.
40. Reed, William J. 1974. "A Stochastic Model for the Economic Management of a Renewable Animal Resource." Mathematical Biosciences 22: 313-37.
41. Rust, John. 1987. "Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher." Econometrica 55 (5): 999-1033.
42. Rust, John. 1994. "Estimation of Dynamic Structural Models, Problems and Prospects: Discrete Decision Processes." In Advances in Econometrics, Sixth World Congress, Vol. II, edited by Christopher A. Sims, 119-70. Cambridge, UK: Cambridge University Press..
43. Schaefer, M. B. 1957. "Some Considerations of Population Dynamics and Economics in Relation to the Management of Marine Fishes." Journal of the Fisheries Research Board of Canada 14: 669-81.
44. Scheld, Andrew M., Christopher M. Anderson, and Hirotsugu Uchida. 2012. "The Economic Effects of Catch Share Management: The Rhode Island Fluke Sector Pilot Program." Marine Resource Economics 27 (3): 203-28.
45. Segerson, Kathleen, and Dale Squires. 1993. "Capacity Utilization under Regulatory Constraints." Review of Economics and Statistics 75 (1): 76-85.
46. Sethi, Rajiv, and E. Somanathan. 1996. "The Evolution of Social Norms in Common Property Resource Use." American Economic Review 86 (4): 766-88.
47. Slade, Margaret E. 1998. "Optimal Pricing with Costly Adjustment: Evidence from Retail-Grocery Prices." Review of Economic Studies 65 (1): 87-107.
48. Smith, Martin D., and James E. Wilen. 2005. "Heterogeneous and Correlated Risk Preferences in Commercial Fishermen: The Perfect Storm Dilemma." Journal of Risk and Uncertainty 31 (1):53-71.
49. Smith, Vernon L. 1969. "On Models of Commercial Fishing." Journal of Political Economy 77 (2): 181-98.
50. Smith, Vernon L. 1975. "The Primitive Hunter Culture, Pleistocene Extinction, and the Rise of Agriculture." Journal of Political Economy 83 (4): 727-56.
51. Sumaila, Ussif Rashid. 1997. "Strategic Dynamic Interaction: The Case of Barents Sea Fisheries." Marine Resource Economics 12 (2): 77-94.
52. Sweeting, Andrew. 2013. "Dynamic Product Positioning in Differentiated Product Markets: The Effect of Fees for Musical Performance Rights on the Commercial Radio Industry." Econometrica 81 (5):1763-1803.
53. Timmins, Christopher. 2002. "Measuring the Dynamic Efficiency Costs of Regulators' Preferences: Municipal Water Utilities in the Arid West." Econometrica 70 (2): 603-29.
54. Timmins, Christopher, and Jennifer Murdock. 2007. "A Revealed Preference Approach to the Measurement of Congestion in Travel Cost Models." Journal of Environmental Economics and Management 53 (2): 230-49.
55. US Energy Information Administration. 1994-2005. "Weekly East Coast No. 2 Diesel Retail Prices." http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMD-EPD2D-PTE-R10-DPG&f=W (accessed October 6, 2014)..
56. Valcu, Adriana, and Quinn Weninger. 2013. "Markov-Perfect Rent Dissipation in Rights-Based Fisheries." Marine Resource Economics 28 (2): 111-31.
57. Wilen, James E. 1976. "Common Property Resources and the Dynamics of Overexploitation: The Case of the North Pacific Fur Seal." University of British Columbia, Resources Paper, 3.
58. Zhang, Junjie, and Martin D. Smith. 2011. "Estimation of a Generalized Fishery Model: A Two-Stage Approach." Review of Economics and Statistics 93 (2): 690-99.