We investigate the relationship between quota enforcement, compliance, and Capital accumulation in ITQ regulated fisheries. Over-extraction and over-capacity represent two of the main fisheries management challenges, and we aim to model and analyze the two jointly. In a stylized resource model,...

The New Zealand ITQ system is a dynamic institution that has had many refinements since its inception more than 15 years ago. Nonetheless, the basic tenets of the system - setting a total allowable catch and leaving the market to determine the most profitable allocation of fishing effort - have...

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...

Fisheries managers in the United States are required to identify and mitigate the adverse impacts of fishing activity on essential fish habitat (EFH). There are additional concerns that the viability of noncommercial species, animals that are habitat dependent and/or are themselves constituents...

The debate in commercial fishery management has evolved from whether well-defined rights are necessary for sustainability to measuring the impacts of different rights-based system designs. Most assessments are on developed world fisheries. Using a unique collection of datasets, we develop...

In January 2009 a new management regime of individual vessel quotas (IVQs) was put in force in the world's largest fishery, the Peruvian anchovy fishery. Until 2009, the fishery was managed by a regulated open access system with clear symptoms of the race for fish. We argue that the new regime...

In this paper, we consider a market where potential firms, which are allowed to be asymmetric, can freely enter and exit, and the total output would be socially excessive without any regulation. The effects of two alternative regulatory policies in the market: the individually transferable quota...

The implementation of rights-based management programs is increasing worldwide yet there are few ex post evaluations, especially in developing country contexts. In this paper we examine changes following the implementation of a catch share system in the Peruvian anchovy fishery, which is the...

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...

After being in force ten and seven years respectively, the tradable fishing quota programs for red snapper and grouper-tilefish in the Gulf of Mexico have so far failed to bring about the expected reduction of the active fleet size and shedding of overcapacity. With the help of a microeconomic...