ITQ: Incentive-Based Approaches to Sustainable Fisheries

At the Australian National University, economist R. Quentin Grafton is Professor, Co-Chair of ANU Water Initiative, Director, Centre for Water Economics, Environment and Policy. Grafton was the principle author of the quoted paper on fisheries policy, and AFAIK one of the leading fisheries researchers. Here is the abstract:

Using examples from more than a dozen fisheries, we highlight the failures of ‘command control’ management and show that approaches that empower fishers with the incentives and the mandate to be co-custodians of the marine environment can promote sustainability. Evidence is provided that where harvesters share well-defined management responsibilities over fish, and experience both the pain of overexploitation and the gains from conservation, they are much more likely to protect fish stocks and habitat. The key insight is that to maintain marine ecosystems for present and future generations, fishing incentives must be compatible with long-term goals of sustainability.