Efficiency advantages of grandfathering in rights based fishery management
Recording date: Apr 11, 2011
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Libecap stressed during his presentation the role of institutions as guarantors of a sustainable development of fisheries resources. His proposal is that the application of laws based on grandfathering, or acquired rights, increases the "dynamic efficiency, compared to other alternatives."
The American professor defends the role of public institutions as regulatory entities, especially in the field of marine resources and fishery, as "recognizing the idiosyncrasies of each agent can motivate efficient investment both in the economic and the environmental field".
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Conference introduced by: Mr. Gonzalo CaballeroFaculty of Economy, University of Vigo
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: Mr. Gary LibecapSanta Bárbara University (USA)
