Management of data-poor fisheries typically relies on setting an annual catch limit (ACL) using catch-based methods that are concerned with estimating a sustainable harvest and hinge on the logic that historic catches reflect a level of exploitation the stock can sustain. The resulting harvest control rules routinely set ACLs at...
This paper addresses adverse incentives built into the process of TAC setting as an instrument to prevent overfishing in multispecies fisheries. Under the Magnuson Stevens Act (MSA), the primary law governing marine fisheries management in U.S. federal waters, regional Fishery Management Councils must develop a rebuilding plan for every overfished...
The recent history of fisheries management in New England has seen substantial interannual variability in total allowable catches (TACs), with stocks deemed healthy in one year retroactively identified as overfished soon thereafter. Concurrently, avenues for and examples of coordination between fishermen are increasing in the region, as exemplified by the...
License and vessel buybacks continue to be utilized by fishery managers to achieve reductions in actual and latent fishing effort worldwide. While there is debate about their effectiveness in achieving sustainability, the design of alternative implementing mechanisms has received less attention. When participation is assumed endogenous, the specific features of...