Potential rent for 1982 is shown to be $73.1 million.
Two of the four vessel types used in the fishery are observed to be responsible for most of the resource rent dissipation. These elasticities exhibit a greater degree of input substitutability than has heretofore been assumed in the theoretical literature. Estimates of cross-price elasticities of input demand and of elasticities of intensity are given. The thesis provides the first estimates of the harvest technology for the British Columbia commercial salmon fishery, one of the first fisheries in North America to experiment with limited entry controls. Almost no research has been done to provide quantitative estimates of substitution possibilities and the associated degree of rent dissipation.
This imposes a cost upon society in the form of a reduced amount of resource rent generated by the fishery. Entry-limiting regulations imposed on common property fisheries have been suspected of encouraging fishermen to substitute unregulated for regulated inputs.
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