PT  - JOURNAL ARTICLE
AU  - Hansen, Lars Gårn
TI  - Prices versus Quantities in Fisheries Models: Comment
AID  - 10.3368/le.84.4.708
DP  - 2008 Nov 01
TA  - Land Economics
PG  - 708--711
VI  - 84
IP  - 4
4099  - http://le.uwpress.org/content/84/4/708.short
4100  - http://le.uwpress.org/content/84/4/708.full
SO  - Land Econ2008 Nov 01; 84
AB  - Jensen and Vestergaard (2003) compare price regulation with quantity regulation under economic uncertainty in the spirit of Weitzman (1974). For a schooling fishery without search cost, they find that price regulation is preferred over quantity regulation, when demand for fish is elastic. However, this finding is based on an assumption that does not hold and, in fact; quantity regulation is always preferred for this type of fishery, irrespective of the demand elasticity. In this note, we show that a pro quota result always applies for a schooling fishery without search costs. (JEL Q22)