As of the late 1990s, there had been instances of Russians shooting at Japanese, Tunisians shooting at

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As of the late 1990s, there had been instances of Russians shooting at Japanese, Tunisians shooting at Italians, and Portuguese shooting at Spaniards. This is just a partial list of the heated conflicts occurring on the high seas between aggressive fishing fleets and well-armed navy and coast guard vessels jealously protecting a lucrative and declining resource. At the source of the conflict appears to be the inability to define property rights to fish. Explain why.

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Microeconomics Theory and Applications

ISBN: 978-1118758878

12th edition

Authors: Edgar K. Browning, Mark A. Zupan

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