Abstract:
Around 100 commercial fish species are utilized by the trawl sector of the Australian South East Fishery,
of which sixteen major species were brought into an ITQ management system in 1992. A revenue function approach
is used to analyze catch, price and effort data for the period 1990-96, and to develop a set of individual vessel supply
curves for quota species, and demand curves for quota. The latter, together with the quota supply constraints, are
used to predict market prices of leased quota for each of the sixteen species. Predicted quota prices are compared
with observed values, and the implications of various policy measures, including removing some species from the
ITQ system, or removing some vessels from the fishery, are discussed.
