Elizabeth H. Petersen argues that economists and other social scientists are increasingly focusing their attention towards institutions (defined as humanly-devised rules) as critical determinants of economic, social and political growth and development. Institutions responsible for the governance of fishery resources have experienced dramatic reforms over the last few decades, stimulated by increased competition for access and exploitation of resources, leading to emerging scarcity of these very resources. This book aims to contribute to the biological and economic sustainability of fish resources worldwide by providing an analysis of fisheries management in the context of new institutional economics.
'The litany of world fishery failures shows that reform of fisheries governance and institutions is essential. The valuable insights and applications in this book will be enormously useful for fishery regulators as they try to sustainably and profitably manage fish stocks, especially highly migratory species such as tuna.' - Quentin Grafton, Australian National University
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