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...
With the publication of the NOAA Draft Policy on Catch Shares, which
encourages US Management Councils to adopt Catch Share Programs (yet
another new name for LAPs, ITQs, or IFQs) there will likely be more
deliberations on such programs. With changes mandated in the revised
Magnuson-Stevens Act and the suggestions...
The New England Multispecies (groundfish) fishery is about to implement
the catch share management system, where self-identified groups of
harvesters called sectors receive quota allocations of total allowable catch
(TAC) proportional to the harvest history of their members. Joining a
sector is voluntary, thus there will be both sector members...
A new type of fisheries management approach termed catch share is set to
be implemented in the US Northeast groundfish fisheries in May 2010.
This approach gives a group of harvesters, called a sector, a portion of the
TAC to manage independently - a hybrid of co-management and individual
quota....
The case for assigning private property rights in fisheries has been
thoroughly studied but has lead to a new debate over whether rights should
be allocated to groups or individuals. The New England groundfish fishery
provides a rich context in which to study this question. Beginning in 2004,
several dozen...
In many fisheries, harvesters of different scales, different gears, or on
different sides of political boundaries crossed by a single stock are
effectively managed separately. The New England Multispecies
(groundfish) fishery is about to dramatically expand the number of
management systems in place concurrently, by allocating portions of the
total...
Amendment 1 to the Golden Tilefish Fishery Management Plan (FMP),
which implemented the most recent catch share program in the Northeast
United States, became effective on November 1, 2009. It replaced a
program that allocated a fixed percentage of annual quota to three groups
of vessel owners with a program...
Individual transferable quotas (ITQs) have been used in several countries worldwide to regulate access to
marine fisheries. While ITQs can improve the economic efficiency of fisheries, in practice they are not a
panacea and distribution and equity issues have been raised in many cases. To overcome those issues,
ITQ systems...
Entrepreneurial New Zealand harvesters created a viable diving fishery for King Clams, Panopea zelandica, in the 1970's
contributing to the development of allocation rights to harvest. Once under the quota management system (QMS), however,
allocations for allowable catch do not reflect the harvest potential for this fishery. Expectations for quota...
Concerns about declining stock and profitability in the Tasmanian rock
lobster industry led to the introduction of individual transferable quota
(ITQ) management in 1998. In this study, fisher groups were categorised
by effort and quota ownership traits to examine response to revised
management, and how profit drivers moderated this change....
Changes in ownership of limited entry permits by “local” residents of the region where a fishery occurs
may have significant economic and social implications for fishery-dependent regions. This paper
examines changes in local permit ownership in Alaska salmon fisheries, for which a long-term decline in
rural local permit ownership is...
In 1996, the US New England Fishery Management Council formed a
technical team (PDT) to develop a new plan for Atlantic Herring (Clupea
harengus harengus). The inshore stock was close to fully exploited while
the offshore stock was underexploited. There were few full-time herring
harvesters and very few processors. Fresh...
ITQ introduction has had several effects on fisheries in terms of, for
example, changes in the composition of the fishing fleet and fishing
efficiency gains. After ITQ introduction in the Tasmanian rock lobster
industry in 1998, an increasing number of fishers have become dependent
on quota leasing to catch fish...
In the administration of its quota management system (QMS), New Zealand sets a “deemed value” fee that must be paid for any landings in excess of annual catch entitlements (ACE.) The deemed value system is an example of a price-capped cap-and-trade system (Roberts and Spence 1976). This paper argues that...
In renewable resource industries, labor is commonly paid with a share of
the harvested resource rather than with a per unit-of-effort wage. Share
cropping in agriculture is one well-known example and entitlement of the
crew to a share of the revenue from the sale of the catch is almost universal...
The literature on ITQs as a fishery management tool predominantly
assumes that all input prices are parametric. In many if not most fisheries,
however, fishing crews are paid a share of the profits. The paper explores
the efficiency of ITQ markets when crews are remunerated under a share
system. Efficiency...
Employing an experimental approach, we examine whether the efficiency of fishery management
can be achieved under Individual Transferable Quotas regimes. We analyze the situation in
which subjects can choose one from two vessel types: a large-scale or a small-scale. The fixed
cost for the large-scale is higher than that for...
The introduction of Individual Transferable Quota (ITQ) fisheries management is controversial as it
typically results in fewer active vessels, fewer vessel jobs, and the remaining vessel crew earning a lower
share of vessel revenues with capital interests, including the new interest "quota ownership", increasing
their revenue share. However, the move...
In discussing property rights, efficiency and fisheries management economic literature often refers to a fishery with a hypothetical single owner, comparing it to fisheries with more fragmented ownership. Through a range of effort reductions, since the near collapse of the fishery in the early 1980s, the Exmouth Gulf Prawn fishery...