The Alaska non-pollock multi-species catcher processor trawl fishery, referred to as the Amendment 80 fishery since 2008, is an endlessly fascinating subject from the perspective of an economist. A diverse group of companies and vessels, emphasizing different species mixes from a multi-species ecosystem, targets fish across the Eastern Bering Sea,...
Multispecies fisheries add additional complexity for rights-based management implementation. Imperfectly selective fishing gear may make it difficult for fishermen to match their catch composition with the portfolio of total allowable catches chosen by management. If fishermen can perfectly target their catch, the problem of matching catches with quota allocations declines...
The notion of individual transferable quotas (ITQs) has permeated the fisheries economics literature over the last 40 years. The most long-standing prediction about ITQs has been extensively documented, namely that transferable property rights to harvest induce changes along the extensive margin via consolidation of quota among a smaller number of...