Individual Transferable Quota (ITQ) systems have been used to control harvests and increase fisheries’ economic efficiency; however, they do not eliminate competitive fishing which can result in stock and congestion externalities that are especially apparent when resources are spatially heterogeneous within the controlled region of the ITQ system. These externalities...
If the spatial and temporal distribution of resources is not homogenous it creates an assignment problem. While the adoption of individual (or transferable) quota management in many commercial fisheries has resolved issues of over-appropriation, assignment problems may remain due to the spatial and temporal complexity of fisheries resources, which creates...