We previously developed a spatially explicit, individual-based model (IBM) evaluating the bio-economic efficiency of fishing vessel movements between regions according to the catching and targeting of different species based on the most recent high resolution spatial fishery data. The main purpose was to test the effects of alternative fishing effort...
A serious impediment blocks advancement of individual transferable quota (ITQ) policy in the United States, particularly in North Pacific fisheries being considered for ITQ management. The traditional ITQ design, that allocates rights to only the harvesting sector, unintentionally expropriates wealth/property interests from the co-dependent-processing sector. This regulatory expropriation is a...
The current Senate Bill to reauthorize the Magnuson/Stevens Act, the key US fishery management law,
will allow some significant changes in the way that Individual Transferable Quota programs can be
developed. First, the bill will expand the range of individuals who will be permitted to obtain harvesting
privileges. In addition...
Fisheries worldwide continue to suffer from the negative consequences of open access. In 1986, New Zealand responded by establishing an individual transferable quota (ITQ) system that by 1998 included 33 species and more than 150 markets for fishing quotas. We assess these markets in terms of trends in market activity,...
Management of individual species in a multi-species fishery poses a number of challenges for fishery management systems, including the problem of managing fish bycatch. Fish bycatch is sometimes identified as a particular problem associated with management systems based on individual transferable quotas (ITQs) but this has not always proven to...
This paper analyzes the behavior of fishing households under individual transferable quotas (ITQ) system based on Singh, Squire and Strauss household model. ITQ system is sought to be the optimal fishery management regime in terms of economic efficiency. However, preceding theoretical analyses only considered implementing ITQ to a well established...
Although many fisheries around the world have long required explicit licensing for fishery participants, the use of limited entry licensing to control fishing effort has become a common practice in the last two decades. In contrast to Individual Fishing Quotas (IFQs), limited entry is only a step towards rights-based management....
Ecosystem based fishery management has moved beyond rhetorical statements calling for a more holistic approach to resource management, to implementing decisions on resource use that are compatible with goals of maintaining ecosystem health and resilience. Coupled economic-ecological models are a primary tool for informing these decisions. Recognizing the importance of...
This paper develops an option value model to examine vessel owners in deciding to participate or not in the vessel buyback program. The model accounts for the uncertainty generally involved in a decision to retire an aged vessel and the underlying value of waiting for new information about the profitability...