Je. Wilen et Fr. Homans, WHAT DO REGULATORS DO - DYNAMIC BEHAVIOR OF RESOURCE MANAGERS IN THE NORTH PACIFIC HALIBUT FISHERY 1935-1978, Ecological economics, 24(2-3), 1998, pp. 289-298
Most of the literature in resource economics is normative, focusing on
questions such as: how should the use of resources be regulated? Litt
le attention has been paid to exactly what regulators actually do in p
ractice. This paper develops and estimates a model of regulatory behav
ior. We model the regulators' objective structure, as well as the mech
anism regulators use to select policy instruments to achieve their obj
ectives. We estimate the model using the North Pacific Halibut Fishery
as a case study, allowing computation of the basic structural paramet
ers as well as implicit weights in the regulators' objective function
as revealed by their actual decisions. (C) 1998 Elsevier Science B.V.