Around 100 commercial fish species are utilized by the trawl sector of the Australian South East Fishery, of which sixteen major species were brought into an ITQ management system in 1992. A revenue function approach is used to analyze catch, price and effort data for the period 1990-96, and to develop a set of individual vessel supply curves for quota species, and demand curves for quota. The latter, together with the quota supply constraints, are used to predict market prices of leased quota for each of the sixteen species. Predicted quota prices are compared with observed values, and the implications of various policy measures, including removing some species from the ITQ system, or removing some vessels from the fishery, are discussed.
Bose, S., H.F. Campbell and A. McIlgorm. A Model of the Market for ITQ in Australia's Multi-species South East Fishery. In: Microbehavior and Macroresults: Proceedings of the Tenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 10-14, 2000, Corvallis, Oregon, USA. Compiled by Richard S. Johnston and Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2001.