Learning How to Fish: Catch Shares and the Future of Fishery Conservation
55 Pages Posted: 28 Jun 2013
Date Written: June 2013
Fisheries the world over are poorly managed and under stress. Yet, proper fishery management can both conserve fisheries and maintain their value as a resource for human consumption. One approach long recommended by economists has been the allocation or recognition of property rights in fisheries. The ability of such methods to enhance economic efficiency is no longer a matter of academic speculation or economic theory. There is ample empirical evidence that such institutional reforms encourage more efficient fishery exploitation. There is also growing empirical evidence that such reforms produce social and ecological benefits as well, increasing safety for fishery participants and encouraging greater resource stewardship. The use of property-based management aligns fisher incentives with the underlying health of the resource, and appears to reduce the adverse environmental effects of commercial fishing.
Keywords: fisheries, catch shares, property rights, fish conservation, rights-based fishery management, individual transferable quota, fishery regulation
JEL Classification: K23, K32
Suggested Citation: Suggested Citation