One of the main goals stated in the proposals for the Common Fisheries Policy (CFP) reform is achieving maximum sustainable yield (MSY) for all European fisheries by 2015. In this paper, we consider the mechanism design problem for allocation of fishing rights to achieve MSY harvesting...

Two of the primary issues of the next Common Fisheries Policy (CFP) reform are maximum sustainable yield (MSY) and transferable fishing concessions (TFCs). The European Commission agreed on implementing TFCs under some major principles including reserving a part of total quotas for small-scale...