In most multi-species fisheries managed through output controls, total allowable catches (TACs) are set primarily on the basis of biological considerations, usually on a species by species basis. An implicit assumption of management is that fishers are able to adjust their product mix in line...

In the last two decades, the fisheries of the North Sea have experienced substantial declines in the population of a number of commercially harvested species. The fisheries have also experienced the development of considerable overcapacity as a result of ineffective management and subsidies....