Failure to manage the harvest of a metapopulation at its underlying ecological scale can lead to extirpation of discrete subpopulations and reduce productivity. However, it may be difficult and costly to assess and manage stocks at a finer spatial scale, and there is generally greater...

Individual transferable quotas (ITQs) in multispecies fisheries create incentives for fishermen to avoid bycatch of species for which quota is scarce. However, when bycatch is highly uncertain, individual quota demand and prices may be volatile creating substantial financial risk for fishermen....