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Catch-quota balancing mechanisms in the Icelandic multi-species demersal fishery: Are all species equal?

Author

Listed:
  • Woods, Pamela J.
  • Bouchard, Caroline
  • Holland, Daniel S.
  • Punt, André E.
  • Marteinsdóttir, Guðrun

Abstract

In this study, utilization of catch-quota balancing mechanisms in the Icelandic demersal fishery, which allow for individual transferable quota to be transformed among species and transferred between years, is analyzed to determine whether annual catches closely adhere to total allowable catches on average. Icelandic landings data for 14 demersal fish species during 2001–2013 are compared to implemented total allowable catches as well as catch limits recommended by the Marine Research Institute (MRI) and a proxy for annual market values. Landings surpassed legal limits of total allowable catch in 27% of the cases (landings by species by fishing year), mostly due to species transformations, but TAC overages were not consistent for any species. Instead, catches of some species were consistently less than legal limits, with some indications that landings were related to profitability (i.e. landings were correlated with market value). However, landings surpassed MRI recommendations in 67% of the cases, and landings of four species (Atlantic wolffish, haddock, monkfish and redfish) consistently exceeded MRI recommendations. Therefore, discrepancies between scientific recommendations for catch limits and quotas selected through the political process may represent a higher risk to long-term sustainability than catch-quota balancing mechanisms.

Suggested Citation

  • Woods, Pamela J. & Bouchard, Caroline & Holland, Daniel S. & Punt, André E. & Marteinsdóttir, Guðrun, 2015. "Catch-quota balancing mechanisms in the Icelandic multi-species demersal fishery: Are all species equal?," Marine Policy, Elsevier, vol. 55(C), pages 1-10.
    • Handle: RePEc:eee:marpol:v:55:y:2015:i:c:p:1-10
    DOI: 10.1016/j.marpol.2015.01.004
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    References listed on IDEAS

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    1. Daw, Tim & Gray, Tim, 2005. "Fisheries science and sustainability in international policy: a study of failure in the European Union's Common Fisheries Policy," Marine Policy, Elsevier, vol. 29(3), pages 189-197, May.
    2. Sanchirico, James N. & Smith, Martin D. & Lipton, Douglas W., 2008. "An empirical approach to ecosystem-based fishery management," Ecological Economics, Elsevier, vol. 64(3), pages 586-596, January.
    3. 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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    1. Da-Rocha, Jose-Maria & García-Cutrin, Javier & Gutierrez, Maria Jose & Touze, Julia, 2016. "A note on CES Preferences in Age-Structured Models," MPRA Paper 75298, University Library of Munich, Germany.
    2. Singh, Rajesh & Weninger, Quinn, 2017. "Quota flexibility in multi-species fisheries," ISU General Staff Papers 201707260700001026, Iowa State University, Department of Economics.
    3. Singh, Rajesh & Weninger, Quinn, 2024. "Discretion rather than rules in multiple-species fisheries," Journal of Environmental Economics and Management, Elsevier, vol. 125(C).
    4. Singh, Rajesh & Weninger, Quinn, "undated". "Discretion rather than rules in multiple-species fisheries," ISU General Staff Papers 202311071438390000, Iowa State University, Department of Economics.
    5. Singh, Rajesh & Weninger, Quinn, 2017. "Quota flexibility in multi-species fisheries," ISU General Staff Papers 201707080700001026, Iowa State University, Department of Economics.

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