Abstract:Abstract:The existing fisheries economics literature analyzes compliance problems by treating the fishing firm as one cohesive unit, but in many cases, violations are committed by agents acting on behalf of a firm. To account for this, we analyze the principal-agent relationship within the fishing firm. In the case where the firm directly benefits from illegal fishing, the firm must induce its crew to violate regulations through the incentive scheme. Within this framework, we analyze how the allocation of liab… Show more
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