Efficiency Costs of Social Objectives in Tradable Permit Programs
RFF Academic Seminar
Objectives of tradable permit programs are often broader than internalizing an externality and improving economic efficiency. A common response to accommodate community, cultural, and other noneconomic goals is to restrict trading. However, these restrictions can increase the costs of the policy. In this paper, we use a unique dataset from the Alaskan halibut and sablefish tradable permit program to develop one of the few empirical measurements of the costs of meeting these non-economic goals. We estimate a 32% reduction in the value of the halibut fishery is attributable to restrictions, and a 22% reduction in the sablefish fishery.
Thursday, October 31, 2013
12:00 - 1:30 p.m.
A light lunch will be provided.
7th Floor Conference Room
1616 P St. NW
Washington, DC 20036
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