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Evidence of package trading in a mature multi-species ITQ market

Author

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  • Innes, James
  • Thébaud, Olivier
  • Norman-López, Ana
  • Richard Little, L.
  • Kung, John

Abstract

In multi-species fisheries managed under ITQs, the existence of joint production may lead to complex catch-quota balancing issues. Previous modelling and experimental research suggest that, in such fisheries, some fishers may benefit from the ability to trade packages of fishing quotas, rather than fulfil their quota needs by simultaneously bidding on separate single-species quota markets. This note presents evidence of naturally occurring package trades in a real fishery. Based on this evidence, we suggest that further empirical and modelling research is required on the potential and limitations of package quota trading in mixed fisheries managed with ITQs.

Suggested Citation

  • Innes, James & Thébaud, Olivier & Norman-López, Ana & Richard Little, L. & Kung, John, 2014. "Evidence of package trading in a mature multi-species ITQ market," Marine Policy, Elsevier, vol. 46(C), pages 68-71.
    • Handle: RePEc:eee:marpol:v:46:y:2014:i:c:p:68-71
    DOI: 10.1016/j.marpol.2013.12.013
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    References listed on IDEAS

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    1. Iftekhar, M.S. & Tisdell, J.G., 2012. "Comparison of simultaneous and combinatorial auction designs in fisheries quota market," Marine Policy, Elsevier, vol. 36(2), pages 446-453.
    2. Thébaud, Olivier & Innes, James & Norman-López, Ana & Slade, Stephanie & Cameron, Darren & Cannard, Toni & Tickell, Sharon & Kung, John & Kerrigan, Brigid & Williams, Lew & Richard Little, L., 2014. "Micro-economic drivers of profitability in an ITQ-managed fishery: An analysis of the Queensland Coral Reef Fin-Fish Fishery," Marine Policy, Elsevier, vol. 43(C), pages 200-207.
    3. Tisdell, J.G. & Iftekhar, Md Sayed, 2013. "Fisheries quota allocation: Laboratory experiments on simultaneous and combinatorial auctions," Marine Policy, Elsevier, vol. 38(C), pages 228-234.
    4. Sanchirico, James N. & Holland, Daniel & Quigley, Kathryn & Fina, Mark, 2006. "Catch-quota balancing in multispecies individual fishing quotas," Marine Policy, Elsevier, vol. 30(6), pages 767-785, November.
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    2. Martin Bichler & Vladimir Fux & Jacob Goeree, 2018. "A Matter of Equality: Linear Pricing in Combinatorial Exchanges," Information Systems Research, INFORMS, vol. 29(4), pages 1024-1043, December.

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