When a new market is created for ITQs, fishermen may have little information about the value of the newly-created assets that they hold. As such, concerns have been raised regarding distributional concerns associated with the transition to market-based management of natural resources. Aside from the first-order concerns regarding the initial...
One of the main concerns surrounding the transition to individual transferable quota (ITQs) is that it could have adverse distributional consequences. Some fisheries, such as the West Coast Groundfish fishery, have implemented moratoria on permanent transfers due to a concern that large-scale firms could take advantage of smaller-scale by not...