This paper develops a system dynamics model of Individual Transferable Quota (ITQ) systems in order to differentiate ITQ from total allowable catch (TAC) effects and to identify areas where policy changes and management improvement may be most effective. ITQ systems provide incentives for...

This paper reviews the major issues involved in Hardin’s [1] tragedy of the commons, written over 44 years ago, and examines whether these issues are still relevant today. We assert that this model still provides important insight to aid in the solution to our global problems. In particular,...

The author wishes to make the following correction to this paper. Due to mislabeling, replace: [...]