Renewable resource policy when distributional impacts matter

Richard D. Horan, James Samuel Shortle, Erwin H. Bulte

Research output: Contribution to journalArticle

7 Scopus citations

Abstract

The standard assumption in bioeconomic resource models is that optimal policies maximize the present value of economic surplus to society. This assumption implies that regulatory agencies should not be concerned with the distributional consequences of management strategies. Both contemporary welfare-theoretic and rent-seeking approaches suggests distributional issues are important in designing resource management policies. This paper explores resource management when the managing agency has preferences defined over the economic welfare of various groups with a direct economic interest in the use of resources. Policy schemes consistent with this approach are derived and compared with standard results.

Original languageEnglish (US)
Pages (from-to)191-215
Number of pages25
JournalEnvironmental and Resource Economics
Volume14
Issue number2
DOIs
StatePublished - Jan 1 1999

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

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