International Institutions for Management of the Oceans. Scott Barrett School of Advanced International Studies Johns Hopkins University. Overfishing is like a card game. $104. D. Card game: $5 if keep red card; $1 for every red card handed in by anyone. Suppose N = 100. $100. $5.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
School of Advanced International Studies
Johns Hopkins University
$5 if keep red card;
$1 for every red card handed in by anyone.
Suppose N = 100.
Number of others that play Conserve
Seals were hunted and killed well outside the 3-mile limit.
How did it do this?
1. Created an aggregate surplus by banning pelagic sealing.
2. Used side payments to redistribute the surplus such that every party gained.
3. Deterred non-participation by means of a “linchpin” punishment.
4. Deterred non-compliance by making pelagic sealing a criminal offence.
5. Deterred entry by banning trade in non-authenticated skins.
“…as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say, we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.”