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The Hawaii-based longline fishery, which lands the vast majority of the Hawaii commercial catch of pelagic fish, is a limited entry fishery capped at 164 permits. Of the 120 active vessels, roughly 1/3 are owned by Vietnamese-Americans. Since the late 1980s, nearly all of the Vietnamese-American longline fishermen targeted swordfish. This changed dramatically in 2001 when the National Marine Fisheries Service prohibited targeting of swordfish due to interactions with threatened and endangered sea turtles. The final environmental impact statement predicted that the closure and related actions would disproportionately and negatively affect Vietnamese-American fishermen. To monitor actual social impacts, researchers conducted in-depth interviews with 40 Vietnamese-American owners, captains, and wives from June-November 2003. Changes in household income, family cohesion, and community cohesion, coupled with the cumulative impact from other actions, created a dramatic change in the quality of life of affected individuals and families, with effects rippling through the Vietnamese-American fishing community and the broader longline community. The impact assessment had identified some types of impacts, but missed substantial components of others, demonstrating the necessity of monitoring social impacts. Key words: Hawaii longline fleet, social impact assessment, impacts of fishing regulations, environmental justice, Vietnamese-American fishermen

While the historical character of US fisheries has been dominated by the idea of open access, the last several decades have seen sometimes quite radical changes to this basic way of thinking. Government regulation has increasingly taken the form of limited access to fisheries by various means. The Atlantic Sea Scallop fishery in the Northeast US provides a unique insight into the meanings, practices, and implications of these changes in the character of property relations. While the fishery has seen rebounding success in the past few years, the scallop fishery also encapsulates a number of the changes and controversies confronting fisheries worldwide. At the same time, the regulatory regime has seen a shift towards area-based management, which underscores spatial heterogeneity of the resources while using a culturally constructed view of fishermen. New area-based management measures have forced into view a fundamental difference in access between a more property-oriented industrial style of fishing and an open access fishery. These differences are found in and through New Bedford, the largest scalloping port in the Northeast, opening up the notion of a fishing community to multiple interests, positions, and interpretations, with implications for understandings of management, community, and the social practices of fishing. Key words: fisheries anthropology, property rights, common property, fisheries management, New Bedford Massachusetts

Many of the world's most important fisheries are in a state of crisis. The Maine lobster industry is one of the very few exceptions, with catches at an all time high. Much of the success of this fishery stems from effective conservation legislation, passed largely through the long-term lobbying activities of powerful factions within the industry itself. In stark contrast is the Maine groundfishery, where stocks and catches have never been so low. This industry has had to deal with a top-down management system that has given it little incentive to conserve and has made it virtually impossible to get rules the industry considers effective. They have responded by using a roving bandit strategy. From the perspective of rational choice theory, the basic difference is that the lobster industry has been able to organize politically to get legislation to solve its communal action dilemma, while the groundfishing industry, like most fishing industries, has not. This paper explores the biological, technical, economic, social, and political factors underlying the differential ability of these two industries to develop effective conservation legislation. These data contribute to answering one of the most important questions facing resource management at present--namely, under what conditions will resource users develop rules to sustain the resources on which their livelihood depends? Key words: rational choice, fisheries management, lobster industry, groundfish industry, Maine

The impact of restrictions in a small economy, on the debt and equity proportions, and the varied classes of international capital flows are discussed. Cross-border private financial capital is influenced by regulations. Factors like the taxation policy, and the characteristics of the capital market regulations affect the amount of such capital flows.

The paper reports on the behavior of the incumbent and entrants into the residential U.K. gas market where the regulator has investigated whether encumbent's prices discriminate against those of the entrants. The authors find that entrants' behavior provides support for the incumbent's cost allocation rather than those of the regulator.

What event studies can or cannot tell us about the effects of regulatory changes is the subject of the paper. However useful as a tool an event study is, there are problems in implementation and interpretation when such regulatory changes come about, so that caution must be exercised by those who carry out or read event studies.

Financial innovations resulting from regulation may persist even after deregulation if their fixed costs are too high in the absence of strict regulation. The entry of money market mutual funds (MMMFs) illustrates this phenomenon by substituting for thrift bank deposits. This substitutability remained even after deregulation, thereby reducing thrift bank's market share. Rising GNP allows MMMFs to gain market share that might have been acquired by banking institutions.

A study was done to investigate the influence of economic regulation on a company's plans to diversify and integrate upstream. A model of the effects of regulation on these two strategic decisions was tested involving 49 electric utilities for the period 1974-1986. The results of the study supported the hypotheses that the regulatory agency's monitoring effort is directly proportional to the firm's diversification effort, and that greater monitoring effort by regulators leads to reduced presence of companies upstream.

A regulator imposing sales restrictions or capacity limitation on firms competing in oligopolistic markets may enhance quality provision by these firms. The instrument amounts to protecting entrants or low-quality firms; this in turn makes it profitable to sink money into quality upgrades. Moreover, for most restrictions levels, the impact on quality selection is invariant to the mode of competition.