This research incorporates unique household survey data and a discrete shift in fisheries management into a model of migration in order to analyze the drivers of outmigration in rural Alaskan communities that traditionally depend on fisheries for income. Although there is evidence that a transition to rights-based management decreases the degree of local participation in fisheries as rural residents sell their allocations to outsiders with higher capital endowments, little is known about how these large lump-sum payments affect migration and assets. The implementation of a limited entry permit system in the Alaska salmon fishery allows us to examine how harvesters who reside in rural Alaskan communities respond to such allocations and to test whether these management shifts generate an outflow of migration, potentially undermining the resilience of small communities. A model of migration that integrates fluctuations in fishery returns and transactions within permit markets is tested using individual responses to a household survey conducted with randomly sampled respondents from 10 communities around Bristol Bay. Although the immediate impact of permit sales on migration appears to be negligible, there is evidence of intergenerational spillovers with descendants being less likely to reside in the region, participate in the fishery, and own durable assets.