The evolution of the Quota Management System of fisheries management in New Zealand has been
accompanied by four innovations in the specific mechanisms used by government to collect revenue from commercial
fishers and quota owners. These are: the introduction of resource rentals, the removal of resource rentals, the
introduction of cost recovery and the proposed substantial modification of the cost recovery regime. This paper reviews
the history of these innovations and identifies some of the key incentives associated with them. In particular, the
interaction between these incentives and the overall incentive set suggested by a framework of secure property rights is
McClurg, T. Return to the Nation: Resource Rentals and Cost Recovery. In: Microbehavior and Macroresults:Proceedings of the Tenth Biennial Conference of the International Institute ofFisheries Economics and Trade, July 10-14, 2000, Corvallis, Oregon, USA.Compiled by Richard S. Johnston and Ann L. Shriver. InternationalInstitute of Fisheries Economics and Trade (IIFET), Corvallis, 2001.