Fisheries worldwide continue to suffer greatly from the negative consequences of open access, despite numerous regulatory “solutions”. In 1986, New Zealand responded by establishing the most comprehensive market-based Individual Transferable Quota (ITQ) system for fisheries management, resulting in the creation of over 150 fishing quota markets differentiated by geographic region and species. W...

A collapse in international trade following the 2007-08 crisis has underscored many dangers of globalization and renewed interest in trade protectionism, one form of which is import quotas. The analysis of import quotas is predominantly based on a static model, which is unable to capture the fact that a quota is imposed over a period of time. This article develops a continuous-time model that i...

We study the problem of allocating multiple objects to agents without transferable utilities, where each agent may receive more than one object according to a quota. Under lexicographic preferences, we characterize the set of strategyproof, non-bossy, and neutral quota mechanisms and show that under a mild Pareto efficiency condition, serial dictatorship quota mechanisms are the only mechanisms...

Years of EU fishing catch restrictions have failed to stem the decline of many once abundant species in the northeast Atlantic and fishermen and conservationists are pressing for change.

OBJECTIVES Responding to the serious shortage of physicians in rural areas, the Japanese government has aggressively increased the number of entrants to medical schools since 2008, mostly as a chiikiwaku, entrants filling a regional quota. The quota has spread to most medical schools, and these entrants occupied 16% of all medical school seats in 2016. Most of these entrants were admitted to me...

We quantify the intertemporal impact of a renewable quota on CO2 emissions, pollution and welfare. We find that a quota substitutes investments in baseload technologies. Therefore quotas have little impact on CO2 and pollution in systems that expand baseload with hydro. We also find that quotas can be quite expensive and their impact is highly nonlinear. With detailed data on Chile’s system we ...

In this paper, we show that 23 is the minimal quota that guarantees the transitivity of a complete majority relation. We argue that this quota is important for the process of negotiation that may take place when a group has to take a clear-cut decision under a specific quota-rule.

According to conventional wisdom, raising the quota either causes a committee to retain the status quo or has no effect on its performance; so a committee which would otherwise reach good decisions should operate with a low quota. We show, per contra, that reducing the quota may improve the quality of new decisions which a private committee reaches. In particular, it is optimal to reduce the qu...

The central question addressed in this paper is whether the presence of the MFA made the NAFTA politically more acceptable. Assuming that the government maximizes a weighted sum of welfare and producer profits, we derive four key results. First, taking the initial level of trade restriction as exogenously given, it is possible for an FTA to be endorsed by both parties under the MFA-like quota i...