This paper examines the generation of resource rent during the transition from an over-exploited to an efficiently managed fishery. A simple theoretical model is used to demonstrate that current industry returns may below or even negative during this adjustment phase. A case in point is the New...

Government and non-government conservation agencies have long-term goals and objectives to provide environmental services, such as conserving the biodiversity of Australian native vegetation. In addition to national parks and reserves, private lands are often included in conservation programs to...