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The triple bottom line: Meeting ecological, economic and social goals with individual transferable quotas

  • Péreau, J.-C.
  • Doyen, L.
  • Little, L.R.
  • Thébaud, O.

This paper deals with the sustainable management of a renewable resource based on individual and transferable quotas (ITQs) when agents differ in terms of harvesting costs or catch capability. In a dynamic bio-economic model, we determine the feasibility conditions under which a fishery manager can achieve sustainability objectives which simultaneously account for stock conservation, economic efficiency and maintenance of fishing activity for the agents along time. We show how the viability of quota management strategies based on ITQ depends on the degree of heterogeneity of users in the fishery, the current status and the dynamics of the stock together with the selection of TAC schedules. In particular for a given stock, we compute the maximin effort for a given set of agents and we derive the maximal number of active agents for a given guaranteed effort. An application to the nephrops fishery in the Bay of Biscay illustrates the results.

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Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 63 (2012)
Issue (Month): 3 ()
Pages: 419-434

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Handle: RePEc:eee:jeeman:v:63:y:2012:i:3:p:419-434
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  17. Heaps, Terry, 2003. "The effects on welfare of the imposition of individual transferable quotas on a heterogeneous fishing fleet," Journal of Environmental Economics and Management, Elsevier, vol. 46(3), pages 557-576, November.
  18. Tom Kompas & Tuong Che, 2005. "Efficiency Gains and Cost Reductions from Individual Transferable Quotas: A Stochastic Cost Frontier for the Australian South East Fishery," Journal of Productivity Analysis, Springer, vol. 23(3), pages 285-307, 07.
  19. Pinkerton, Evelyn & Edwards, Danielle N., 2009. "The elephant in the room: The hidden costs of leasing individual transferable fishing quotas," Marine Policy, Elsevier, vol. 33(4), pages 707-713, July.
  20. Claire Macher & Olivier Guyader & Catherine Talidec & M. Bertignac, 2008. "A cost–benefit analysis of improving trawl selectivity in the case of discards: The Nephrops norvegicus fishery in the Bay of Biscay," Post-Print hal-00359860, HAL.
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