In demystifying the concept of market-like instruments, this study explains how to make better use of market-like instruments in fisheries management by identifying practical steps that can be taken to further their use. The findings of the study are based on a survey of the use of market-like...

Rapid technological advances in information and communication technologies and their widespread diffusion have led some to speculate about "frictionless" economies where transaction costs are nearly zero, barriers to entry and contestability disappear and markets clear instantly.