This paper studies whether and under what circumstances, individual fishing decisions in aggregate match the maximum economic yield (MEY) or maximum sustainable yield (MSY) of a fishery. Under experimental economic conditions we provided participants a fleet of boats with a constant marginal cost and a non-linear revenue function. We explore...
Fishermen often have the choice of fishing at a number of sites in their region. Introducing tradeable fishing rights has a long pedigree in economic thought as an appropriate instrument to ensure an efficient distribution of fishers between sites. This paper explored the question of coordination between two sites‚ one...
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...