This paper analyzes the distributional consequences of re-distributing quota between different artisanal fisher groups (from large vessel to small vessel owner) when management is based on a collective rights system. We develop a basic model to analyze optimal decisions with a collective fishing rights system. With this model as a conceptual framework, using a Theil index as a distributive measure, and employing optimization techniques we calculate assignment and distribution rules within the organization: centralized efficient quota assigment, decentralized quota assignment with and without transferability, individual quotas, and initial allocation based on historical assignments (with no transferability). The model is based on the common sardine and anchovies artisanal fisheries of central – southern Chile and it is used to analyze an actual experience of quota re-distribution between artisanal fishers. The analysis of the results allows discussing and comparing the equity implications of these different assignment and distributional rules.