licence buyback in a fishery. Using individual firm-level data for the period1997-2000, the paper analyzes a “natural … experiment" of the effects of a 1997 scheme to reduce fishing capacity in the South East trawl fishery of Australia. The scheme … was unique in the sense that the buyback was implemented in a fishery managed by individual vessel tradeable …

licence buyback in a fishery. Using individual firm-level data for the period 1997-2000, the paper analyzes a "natural … experiment" of the effects of a 1997 scheme to reduce fishing capacity in the South East trawl fishery of Australia. The scheme … was unique in the sense that the buyback was implemented in a fishery managed by individual vessel tradeable harvesting …