Quota market efficiency : the New Zealand Annual Catch Entitlement (ACE) market

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Stewart, James
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2014-07
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Conference Contribution - Oral Presentation
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: Annual Catch Entitlement (ACE)
efficient markets
information channels
transaction costs
deemed value
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Stewart, J. (2014, July). Quota market efficiency: The New Zealand Annual Catch Entitlement (ACE) market. Paper presented at International Institute of Fisheries Economics & Trade (IIFET) Conference, Brisbane, Australia.
Abstract
Characteristics of efficient markets: Information on price is easy to obtain • Information on characteristics of the good is readily available • Price establishes market equilibrium • Transaction costs are low • No barriers to entry and exit • Identical goods
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