The Gulf of Mexico Red Snapper IFQ Program (Program) was the first catch share management program implemented in the Gulf of Mexico. IFQ management was implemented to reduce overcapacity and eliminate the problems associated with derby style fishing. The Program was successful, the number of vessels harvesting red snapper decreased...
Catch share management programs are designed to reduce overcapacity in fisheries through trading as efficient harvesters buy out their less efficient counterparts. Numerous studies have looked at either the ex-ante potential of catch shares management to reduce overcapacity in a fishery or the ex-post effects of implementing such a program,...
During the first three years (2007-2009) of the Gulf of Mexico red snapper IFQ program most quota lease trades were local, involving fishers that lived in the same communities. In 2010, the red snapper quota lease market changed as more IFQ participants began trading quota with fishers from different regions...
Many of the tangible benefits of catch share programs (e.g., reducing overcapacity) are dependent on the trading of shares. Additional trading-related questions (such as whether landings will change port or be concentrated geographically) are also important to the overall evaluation of a fishery, but are often asked only during post-implementation...