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System Dynamics Modeling of Individual Transferable Quota Fisheries and Suggestions for Rebuilding Stocks

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  • Edward J. Garrity

    () (Information Systems Department, Richard J. Wehle School of Business, Canisius College, 2001 Main St. Buffalo, New York, NY 14208, USA)

Abstract

This paper develops a system dynamics model of Individual Transferable Quota (ITQ) systems in order to differentiate ITQ from total allowable catch (TAC) effects and to identify areas where policy changes and management improvement may be most effective. ITQ systems provide incentives for long-term stewardship but when fisheries are managed “at the edge,” the incentives are inadequate for stock rebuilding. The free-market design of ITQ systems means that fishermen may be in conflict with the long-run, public sustainability goals of fishery management. An adaptive control scheme with a contingent public/private transfer payment is proposed to improve long-term results for both the local community and the general public.

Suggested Citation

  • Edward J. Garrity, 2011. "System Dynamics Modeling of Individual Transferable Quota Fisheries and Suggestions for Rebuilding Stocks," Sustainability, MDPI, Open Access Journal, vol. 3(1), pages 1-32, January.
  • Handle: RePEc:gam:jsusta:v:3:y:2011:i:1:p:184-215:d:10916
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    References listed on IDEAS

    as
    1. Jentoft, Svein, 2000. "The community: a missing link of fisheries management," Marine Policy, Elsevier, vol. 24(1), pages 53-60, January.
    2. repec:aph:ajpbhl:10.2105/ajph.2005.066043_3 is not listed on IDEAS
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    More about this item

    Keywords

    fisheries management; individual transferable quota (ITQ); system dynamics; co-management; precautionary approach; sustainability; ecosystem based management;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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