natural resource economics

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1- Please draw a figure showing the optimal level of harvest from an economic perspective and compare to an open access fishery. Please explain briefly the consequences over the og run of having an open access fishery

2- Please read carefully chapter 12 of your text book and comment on Oman’s Abalone policies

Season for harvesting Abalone is restricted to December 7 to 16 (2019) according to a statement from the Directorate General of Fisheries issued on Tuesday.

Fishermen should have licenses before embarking on the harvest.

The Ministry warned of strict action against illegal fishing methods. For instance divers should not use oxygen to harvest Abalone

Traders who are engaged in the purchase, processing and exporting of abalone are required to renew their license “in accordance with the conditions and controls prescribed in the Executive Regulations of the Marine Fishing Law”.

Please provide a more efficient alternative policy to Abalone harvest

3- Knowing that Oman fishery sector is characterized by small scale vessels. Oman does have some 34,000 small vessels of 8 m size. What would be the option to manage the fishery sector in a more sustainable way? Is it ITQs or TURFs? Please justify your choice

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