After 1950 traditional herring fisheries were revolutionized by a new technique: sonar, power block, larger
nets and bigger boats. As a result all major herring stocks in the North East Atlantic Ocean collapsed. The
most dramatic decline was that of the Atlanto-Scandian stock between Iceland and Norway from millions
of...
40 years ago the Atlanto-Scandian herring stock collapsed with severe consequences for Iceland´s monotonic economy at that time. Two years ago the international credit crisis brought the country´s largest banks to insolvency, which shocked the whole economy with butterfly effects in neighbouring countries. The paper begins with an overview of...
Individual Transferable Quota systems (ITQ's) were implemented in the Icelandic groundfish fisheries in 1984, or twenty years ago. The system was not a 'pure' ITQ system from the beginning, notably with different regulations for different fleet segments and with several changes along the way. The current system has mostly been...