Briefly explain how a system of individual transferable permits works in a fishery. What are the advantages and disadvantages of this system as compared to a license fee or a catch limit?
Briefly explain how a system of individual transferable permits works in a fishery. What are the advantages and disadvantages of this system as compared to a license fee or a catch limit?
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST11: Difficult Environmental Cases And The Role Of Government
Section: Chapter Questions
Problem 1CQ
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Briefly explain how a system of individual transferable permits works in a fishery. What are the advantages and disadvantages of this system as compared to a license fee or a catch limit?
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