European Union's Total Allowable Catches Policy
As a specific example of a governance system for an open-access resource, the European Union implements a 'total allowable catches' (TACs) policy. This international agreement sets catch limits for over 200 commercial fish stocks in both EU and international waters to prevent their depletion.
0
1
Tags
Social Science
Empirical Science
Science
Ch.1 The Capitalist Revolution - The Economy 1.0 @ CORE Econ
The Economy 1.0 @ CORE Econ
CORE Econ
Economy
Economics
Ch.10 Market successes and failures: The societal effects of private decisions - The Economy 2.0 Microeconomics @ CORE Econ
Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Related
History of Climate Change Negotiations (Last 30 Years)
The Montreal Protocol
Challenges in Forging International Environmental Agreements
A nation's industrial sector produces a pollutant that disperses into the global atmosphere. The cost to eliminate this pollution is very high for the nation, but the environmental benefit of its elimination would be shared by all countries worldwide. From an economic standpoint, why is this nation's government likely to be reluctant to implement the costly elimination measures on its own?
Evaluating the Difficulty of International Environmental Cooperation
Consider two different global environmental problems:
-
Problem A: A pollutant is emitted by thousands of companies across nearly every country. The damage from this pollutant is widespread, long-term, and its effects are not immediately obvious. The cost to reduce emissions is extremely high.
-
Problem B: A different pollutant is emitted by a small number of large firms in only five countries. A cost-effective technological substitute for the process causing the pollution has recently been developed. The damage from this pollutant is severe and concentrated in specific, highly visible ecosystems.
Based on the principles of international cooperation, which problem is more likely to be successfully addressed by an international agreement and why?
-
Match each scenario describing a global environmental issue with the most likely outcome for reaching an effective international agreement.
A politician from a single, large industrial country proposes a new national law that would impose significant costs on its domestic industries to completely halt their emission of a specific global pollutant. The politician claims this unilateral action will be sufficient to solve the environmental problem. From an economic perspective, which statement best evaluates this claim?
For a global environmental problem, a non-binding agreement where only the few wealthiest nations voluntarily commit to pollution reduction is typically sufficient to achieve a lasting and comprehensive solution.
Insufficiency of Unilateral Environmental Action
Evaluating Cross-Border Pollution Agreements
Evaluating a Proposed International Environmental Treaty
European Union's Total Allowable Catches Policy
Learn After
A governing body sets an annual catch limit for a specific fish stock to ensure its sustainability. Scientific data indicates the stock is being overfished and recommends a 40% reduction in the catch limit. Fishing industry representatives argue this will lead to immediate job losses. If the governing body prioritizes short-term economic stability and sets the catch limit only 5% lower than the previous year, what is the most likely long-term outcome for the fishing industry dependent on this stock?
Which of the following scenarios best illustrates the unique potential for rapid expansion characteristic of a firm in a market-based economy?
Evaluating Fisheries Management Policies
Analyzing Compliance in a Shared Fishery
A multinational governing body establishes a policy that sets a maximum quantity of a specific fish species that can be caught annually across shared international waters. What is the fundamental economic trade-off this policy is designed to manage?
Justification for International Catch Limits
A multinational body sets an annual catch limit for a specific fish stock based on scientific assessments of the stock's population. If the scientific models used for this assessment significantly underestimate the actual size and health of the fish population, what is the most likely immediate economic consequence for the fishing industry operating under this limit?
A policy that sets a single, overall catch limit for a specific fish stock, which applies to all fishers collectively, effectively eliminates the incentive for individual fishing boats to compete intensely against one another to maximize their catch.
A multinational body implements a policy for a shared fishery where a single, overall catch limit is announced for the entire season. All licensed boats are free to fish until this total limit is reached, at which point the fishery is closed for the year. What is the most likely behavioral response of the individual fishing boat captains to this type of regulation?
Evaluating Policy Effectiveness
Analyzing Compliance in a Shared Fishery