Very little principal-agent analysis has been done within the fisheries economic literature. This paper conducts a principal-agent analysis of fisheries. Within a standard principal-agent model, the low-cost agent must be allowed the same level of effort as under complete information. This...

Worldwide groundwater is a common-pool resource that is potentially subject to the tragedy of the commons if water extraction is not adequately regulated. In developing countries the regulatory infrastructure is often too weak to allow detailed monitoring of individual groundwater extraction....

Oligopoly models where firms and other agents take prior actions that subsequently affect the marginal costs have long been useful in illuminating policy debates with respect to antitrust regulation, environmental protection, and international competition. In this paper we illustrate the...