Since the introduction of quotas and licences as important management tools, Norway has insisted on an individual vessel quota regime (IVQ). The main argument has been to avoid market-based transactions of quotas and vessels and secure stability in regard to a diverse fleet structure and...

Following years of reduced cod stocks and the build up of capture capacity in the coastal fleet, the Norwegian government implemented "access closure" and "vessel quotas" at the end of the 1980s, in order to bring capture capacity under control. However, despite these rather powerful policy...