The objective of this paper is to illustrate that economic institutions matter, i.e., that different rules of trade present different incentives for bidding, asking and trading in new markets, and that these different incentives lead to different price discovery patterns which yield materially different outcomes. In a laboratory tradable fishing...
Fisheries worldwide continue to suffer from the negative consequences of open access. In 1986, New Zealand responded by establishing an individual transferable quota (ITQ) system that by 1998 included 33 species and more than 150 markets for fishing quotas. We assess these markets in terms of trends in market activity,...
It is now widely recognized that property rights based fisheries management regimes are well
suited for generating efficiency in fisheries. Apart from access licences, which are very low
quality property rights, individual quotas (IQs) and individual transferable quotas (ITQs) are the
most widely applicable and, indeed, the most commonly applied...
A serious impediment blocks advancement of individual transferable quota (ITQ) policy in the United States, particularly in North Pacific fisheries being considered for ITQ management. The traditional ITQ design, that allocates rights to only the harvesting sector, unintentionally expropriates wealth/property interests from the co-dependent-processing sector. This regulatory expropriation is a...
Community fishery rights are use rights (the right to take part in fishing) and/or management rights (the right to be involved in managing the fishery) implemented at a local, community level. While by no means a new invention, community rights are receiving renewed attention as a mechanism to improve the...
As the British Columbia salmon fishery developed, the Canadian government, with constitutional responsibility for the resource, faced a number of critical turning points in management policy. In early years, partly for expediency, the allocation of fishing privileges often resulted in efficient levels of effort but little attempt was made to...
The auction system is rather rare in the world fisheries. During this three-year period, 2001-2003, fish quotas in the RFE and the North (Barents Sea) were auctioned off, with the by far largest volumes in the RFE. The main purpose of auctioning quotas for fish and marine invertebrates was to...
The status of fisheries resources on coastal and offshore areas is getting worse in Taiwan. Thus, to establish a fishery resources management system has become the main task among stakeholders. In this study, we would like to examine the feasibility of imposing the community-based co-management system and setting closed fishing...
Local wisdom-based fisheries resource management had been done by Gangga sub district community since long time ago until 1965 in form of sawen, a traditional ritual conducted by wektu telu Moslems. In 1966 - 1999 the ritual disappeared because of changes of people's minds and economic-politic situation. In year 2000...