Uncertainty and the choice of quota program in a multi-product fishery

This paper considers the design of individual quota programs for fisheries where more than one market class of fish is harvested and where a manager is uncertain about the fishing technology, prices, stock levels, and compliance. In particular, the paper considers three problems that follow from a manager's uncertainty and the multi-product nature of the fishery; discarding, ex ante uncertainty, and data fouling. Since multi-product fisheries and uncertainty are the norm, the issues addressed here are fundamental to fisheries regulation.