Into the scrap iron business: Transaction costs for fleet sustainability in Norway |
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| Institution: | 1. School of Pharmacy, Anhui University of Chinese Medicine, Hefei 230012, PR China;2. Synergetic Innovation Center of Anhui Authentic Chinese Medicine Quality Improvement, Hefei 230012, PR China;3. State Key Laboratory of Phytochemistry and Plant Resources in West China, Kunming Institute of Botany, Chinese Academy of Sciences, Kunming 650201, PR China;4. Key Laboratory of Plant Resources Conservation and Sustainable Utilization, South China Botanical Garden, Chinese Academy of Sciences, Guangzhou 510650, PR China;1. Irstea, UR EABX Ecosystèmes aquatiques et changements globaux, HYNES Irstea-EDF R&D, 50 avenue de Verdun, 33612 Cestas, France;2. EDF R&D, HYNES Irstea-EDF R&D, Laboratoire National d’Hydraulique et Environnement, 6 quai Watier, 78401 Chatou, France;1. Saint Mary’s University, Department of Finance Information Systems and Management Science & School of the Environment, Halifax, NS, Canada B3H 3C3;2. Marine Research Institute, Department of Biological Sciences, University of Cape Town, Private Bag X3, Rondebosch, Cape Town 7701, Western Cape, South Africa |
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| Abstract: | For decades the need to reduce surplus fishing capacity has been a fisheries political priority. While decommissioning schemes (buyback programs) usually is a publicly financed measure to reduce capacity, the Norwegian decommissioning scheme is privately financed. Whereas market-based transactions are assumed to lead to cost free adaptations, the Norwegian version reflects public policy aims which impose severe transaction costs on private actors. This article examines the use of market mechanisms for fleet capacity reduction, how private actors adapted to the new order, and the transfer of quota transaction costs from the public to the private sphere. |
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| Keywords: | Fisheries management Transferable quotas Decommissioning schemes |
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