Excess capacity and asymmetric information in developing country fisheries: the Malaysian purse seine fishery
Excess capacity poses a problem in many developing country fisheries. These countries often pursue a development strategy aimed at expanding capacity under open access. Sustainable development, however, requires management. Principal-agent issues from asymmetric information between the regulator and...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Agricultural & Applied Economics Association
2003
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| Online Access: | http://psasir.upm.edu.my/id/eprint/40300/1/Excess%20Capacity%20and%20Asymmetric%20Information%20in%20Developing%20Country%20Fisheries%20The%20Malaysian%20Purse%20Seine%20Fishery.pdf http://psasir.upm.edu.my/id/eprint/40300/ http://ajae.oxfordjournals.org/content/85/3/647 |
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| Institution: | Universiti Putra Malaysia |
| Language: | English |
| Summary: | Excess capacity poses a problem in many developing country fisheries. These countries often pursue a development strategy aimed at expanding capacity under open access. Sustainable development, however, requires management. Principal-agent issues from asymmetric information between the regulator and fishers, which potentially form serious obstacles to fisheries management, arise in the likely forms of management. This article discusses principal-agent issues and examines the principal-agent moral hazard issue, which is due to divorce of ownership and vessel operations. The article also illustrates a method for estimating capacity when information is limited. The Peninsular Malaysian purse seine fishery forms a case study. |
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