Economics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn

Exercise 10

Various cultures have come up with their own methods to limit catch size and prevent fishery collapse. In old Hawaii, certain fishing grounds near shore could be used only by certain individuals. And among in Maine, strict territorial rights are handed out so that only certain people can harvest in certain waters. Discuss specifically how these systems provide incentives for conservation. Then think about the enforcement of these property rights. Do you think similar systems could be successfully enforced for deep-sea fishing, far off shore? L05