International Fish Wars: The Strategic Roles for Fleet Licensing and effort Subsidies

摘要

This article examines the problem of noncooperative international fishing by analyzing the strategic rent-shifting roles for such well-known national management policies as fleet licensing and effort subsidies. It is shown that the noncooperative equilibrium in each policy takes the form of a prisoner's dilemma with dissipated rents in the fishery. It is also shown that strategic effort subsidies can only lead to incomplete rent dissipation but strategic fleet licensing can lead to complete rent dissipation.