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2009•Ecological EconomyRequires access

Overfishing in Marine Fisheries and Individual Transferable Quotas

Li Jiacai

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Abstract

The property right of marine fish and it’s allowable catch is not well-defined, so ill-regulated marine fisheries are bound to be subject to overfishing which includes economic overfishing and biologic overfishing. Traditional regulations on total allowable catch (TAC) and fishing effort are not capable of dealing with overfishing ultimately. Individual transferable quotas (ITQs) establish individual property rights of fishermen, which can effectively tackle overfishing. China ought to study and learn from other nations’ valuable experiences about TAC and ITQs.

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What this paper is about

The property right of marine fish and it’s allowable catch is not well-defined, so ill-regulated marine fisheries are bound to be subject to overfishing which includes economic overfishing and biologic overfishing. Traditional regulations on total allowable catch (TAC) and fishing effort are not capable of dealing with overfishing ultimately. Individual transferable quotas (ITQs) establish individual property rights of fishermen, which can effectively tackle overfishing. China ought to study and learn from other nations’ valuable experiences about TAC and ITQs.

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Available abstract

The property right of marine fish and it’s allowable catch is not well-defined, so ill-regulated marine fisheries are bound to be subject to overfishing which includes economic overfishing and biologic overfishing. Traditional regulations on total allowable catch (TAC) and fishing effort are not capable of dealing with overfishing ultimately. Individual transferable quotas (ITQs) establish individual property rights of fishermen, which can effectively tackle overfishing. China ought to study and learn from other nations’ valuable experiences about TAC and ITQs.

Key concepts: Overfishing, Fishing, Fishery, Property rights, Natural resource economics, Business, Economics, Microeconomics

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