Optimal Allocation of TAC and the Implications of Implementing an ITQ Management System for the North-East Arctic Cod
First, we study the allocation rule applied to split the Norwegian total allowable catch for cod between coastal and trawler vessels. Second, we explore the bioeconomic implications of an ITQ management system for this fishery. A model combining a cannibalistic biomodel with cooperative game theory is developed. Key results from the study are (1) the current allocation rule acts in opposite fashion to what may be considered bioeconomically optimal; and (2) an ITQ system for this fishery is likely to result in economic losses, as the biological advantages of harvesting with the two vessels types may be lost.
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- Cullen, Ross, 1996. "Fisheries Management: Lessons about "Tradable Quota" from New Zealand," Choices, Agricultural and Applied Economics Association, vol. 11(3).
- Gordon R. Munro, 1979. "The Optimal Management of Transboundary Renewable Resources," Canadian Journal of Economics, Canadian Economics Association, vol. 12(3), pages 355-76, August.
- Fischer, Ronald D. & Mirman, Leonard J., 1992. "Strategic dynamic interaction : Fish wars," Journal of Economic Dynamics and Control, Elsevier, vol. 16(2), pages 267-287, April.
- Eikeland, Per Ove, 1993. "Distributional aspects of multispecies management : The Barents sea large marine ecosystem," Marine Policy, Elsevier, vol. 17(4), pages 256-271, July.
- Parzival Copes, 1986. "A Critical Review of the Individual Quota as a Device in Fisheries Management," Land Economics, University of Wisconsin Press, vol. 62(3), pages 278-291.
- Rögnvaldur Hannesson, 1996. "Long-term industrial equilibrium in an ITQ managed fishery," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 8(1), pages 63-74, July.
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