Global Management of Whales as a Mixed Good and Shared Resource: Bargaining and Institutions

The global management of whale species, which are here defined as an economic mixed good, is addressed by means of economic theory of bargaining and institution making. Analysis is focused on: (1) why and how it is important to take account of both (consumptive) use and non-use values when we cope with international environmental agreements (IEAs) on whales and global mixed goods; (2) the role and nature of institutions dealing with such global issues; and (3) the role of bargaining between conflicting interests as a focal feature of the institution-making process. Co-operative and non-co-operative solutions are discussed, together with instruments aimed at achieving co-operation. The study has both positive and normative implications, as far as international conventions on whales are concerned. Such institutions should internalize both ecological and economic issues. Developing the results of previous work, which argues that whale management should take into account the total value of the species in orde...