A wide range of fisheries are managed using vessel catch limits combined with different kinds of effort restrictions. This management framework is expected to have desirable consequences for the bioeconomic sustainability of fisheries. When appropriately implemented this approach produces outcomes that are similar to those associated with individual fishing quotas....
In the UK, individual quotas are imposed on the demersal whitefish trawl fleet. Many of the key whitefish stocks are at historically low levels, and there is pressure on the industry to adjust to remove the current excess capacity. Adjustment in the fishery is likely to favour vessels that are...