It is generally accepted that co-management systems are more cost-effective than centralized management of natural resources. However, no attempts have been made to empirically verify the transaction costs involved in fisheries co-management. Some estimates of transaction costs of fisheries...

The current, highly centralized approach to fisheries management seems to be incapable of coping with escalating resource depletion and environmental degradation. Co-management has been identified as an alternative. This paper compares various approaches to fisheries management and discusses...