Reducing Deer Overabundance by Distinguishing High-productivity Hunters: Revealed-Preference, Incentive-Compatible Licensing Mechanisms
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This paper models the current problem of overabundance (and under-harvesting) of white-tailed deer as a Principal-Agent problem, with adverse selection and moral hazard. Using econometric analysis of data available from hunter behaviors studies in Pennsylvania, overall welfare gains are estimated from increased hunter satisfaction and license revenue. Results indicate that significant gains in economic surplus result when licensing schemes are unrestricted by current quota systems.