Quota market efficiency : the New Zealand Annual Catch Entitlement (ACE) market
Citation: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.
Permanent link to Research Bank record:http://hdl.handle.net/10652/3881
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