Replaced with revised version of paper 07/28/05.

The benefits from increased levels of social capital have been shown to manifest themselves in ways that can increase the efficiency of the use and regulation of natural resources, as well as increase the resiliency of resource dependent communities against fluctuations in abundance. While the...

Replaced with revised version of paper 07/28/05.

NOTE: This supplemental material and any errors or omissions contained herein are solely the responsibility of the author(s). Agricultural and Resource Economics Review provides this material as a courtesy and therefore does not subject it to a formal or informal review.

Transferable allowance management systems are receiving increased attention from fishery managers and stakeholders alike. We use a laboratory experiment in which human subjects play the role of fishers to evaluate the promised economic efficiency of tradable allowance systems. In an experiment...

The objective of this paper is to illustrate that economic institutions matter, i.e., that different rules of trade present different incentives for bidding, asking, and trading in new markets, and that these different incentives lead to different price discovery patterns, which yield materially...

The objective of this paper is to illustrate that economic institutions matter, i.e., that different rules of trade present different incentives for bidding, asking, and trading in new markets, and that these different incentives lead to different price discovery patterns, which yield materially...

An industry group has proposed a novel system for managing the Northeast Multispecies Fishery. Each harvester would be endowed with a budget of points, and each species would have a “point price,†or number of points that must be paid out of his budget when landing that species. By...