We set up a model which captures the spatial dimension of international fisheries in legal (i.e. internationally accessible high seas versus state-owned exclusive economic zones) and biological (i.e. various intensities of fish migration between zones) terms. We compare the success of regional fishery management organizations (RFMOs) for the first-best and two alternative management scenarios, related to restrictions regarding the scope and compatibility of measures. While the performance of a given RFMO declines in the presence of these alternative management practices, participation might improve as free-riding becomes less attractive and the overall net effect may well be positive.
|Oxford Economic Papers
|Published - Oct 2015