This is a background paper to the Pacific Possible report. The Pacific Island countries control one of the World's largest and healthiest tuna stock. They have been able to significantly increase revenue from fisheries licenses over the past few years through the introduction of the Vessel Day...

We propose a new intra-seasonal model for a fishery that allows for explaining both efficiency gains and welfare effects related to the introduction of individual quotas in fisheries previously operating as regulated open access. Our model is also suitable for analyzing international fisheries...