This paper provides a brief description of the evolution and current structure of the individual quota system (IQ) in the Icelandic fisheries. This particular fisheries managerial system was introduced at different times in different fisheries — in the herring fisheries in 1976, in the capelin...

In this paper efficiency gains and associated cost reductions from increases in traded quota are estimated with a stochastic cost frontier for the Australian South East Trawl Fishery (SETF). Estimation of this frontier also provides key information on the relative importance of input costs in...

Under the rubric of sustainable fisheries, nations are mandated to rebuild overfished stocks. Although rebuilding strategies are almost universally directed by the available biological information, approaches vary depending on fishery laws, management objectives, and technical guidelines. For...

For fish stocks where the unit price of harvest is constant and unit harvest costs are independent of quantity and non-increasing in biomass, regulation based on target escapement (TE) has been shown to optimise the net present value (NPV) of harvest to society. This result has also been shown...

Fisheries managers use licenses as a method of capping the size of a fishing industry, but as management goals change and the size of fishery stocks fluctuate, managers may be faced with the decision to buy back licenses. The vast majority of economic literature on license buyback programs...

The conflict between efficiency and maximization of employment colours all aspects of fisheries management in Canada, including implementation of rights based fisheries management regimes. Even though rights based systems are strongly based on considerations of efficiency, sometimesat the...

The potential for economic policy modelling approaches under alternative theories of fisheries management are reviewed. Conceptual dynamic models are developed to illustrate the discussion. Results suggest that the class of multiobjective models known as multiattribute utility theory are...

A multiobjective bioeconomic policy model was developed for the United States Pacific whiting fishery. Pareto-optimal solutions for three policy objectives—rents, production, and female spawning biomass—were developed and analyzed using "hybrid" generating technique. Three policy instruments...

Input controls in fisheries have been criticised for negatively affecting the efficiency of fishers through incentives to substitute inputs. A stochastic frontier analysis will be used to investigate the influence that input controls have had on the technical efficiency of fishers who operate in...

Abstract This paper explores the economic performance of a fishery that operates under an individual transferable quota (ITQs) management system and that is subject to an in-season stock externality. While Boyce (1992) and others have established theoretically that ITQ management is not fully...