A rejoinder to E. Pinkerton et al., the elephant in the room: The hidden costs of leasing individual transferable fishing quotas

The purpose of this rejoinder is to respond to and question the many assertions made by Pinkerton et al. in the recently published Marine Policy article entitled: "The elephant in the room: The hidden costs of leasing individual transferable fishing quotas". Particular attention is paid to the assertion that 79% of the British Columbia Pacific halibut TAC is being leased out by "armchair fishermen". The rejoinder also discusses how ITQs, when used with other fishery management tools, such as catch monitoring, creates incentives that align more closely the fishermen harvesting behaviour and practices with the objectives of the resource manager.