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Using individual transferable quotas (ITQs) to achieve social policy objectives: A proposed intervention

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  • Soliman, Adam

Abstract

ITQs offer environmental and economic benefits, including better conservation of a fish stock and greater profitability for fishers. With some limitations, they achieve fairly good alignment between the profit incentive and stewardship objectives. Nevertheless, critics have objected to ITQ schemes because of such factors as the “armchair fishing” phenomenon, unfairness to the public (the owner of the fish), economic and social damage to remote communities, and increased concentration within the fishery. Economists generally dismiss these as distributional issues rather than matters of efficiency or economics, but economic principles are clearly not the only factors that may require attention or action from a government or regulator. This paper proposes an intervention that addresses these concerns within the context of an ITQ scheme. The intervention does not reduce the permanence or values of ITQs, and therefore retains the benefits that ITQs are designed to deliver. Nevertheless, the intervention addresses the criticisms identified above. Modifications of the intervention may enable additional goals and benefits to be achieved as well.

Suggested Citation

  • Soliman, Adam, 2014. "Using individual transferable quotas (ITQs) to achieve social policy objectives: A proposed intervention," Marine Policy, Elsevier, vol. 45(C), pages 76-81.
    • Handle: RePEc:eee:marpol:v:45:y:2014:i:c:p:76-81
    DOI: 10.1016/j.marpol.2013.11.021
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    References listed on IDEAS

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    Cited by:

    1. Sutherland, Sara A. & Edwards, Eric C., 2019. "Community Impacts of Fishery Privatization," CEnREP Working Papers 340061, North Carolina State University, Department of Agricultural and Resource Economics.
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    3. Holzer, Jorge & McConnell, Kenneth, 2023. "Extraction rights allocation with liquidity constraints," Resource and Energy Economics, Elsevier, vol. 71(C).
    4. Simmons, Glenn & Stringer, Christina, 2014. "New Zealand׳s fisheries management system: Forced labour an ignored or overlooked dimension?," Marine Policy, Elsevier, vol. 50(PA), pages 74-80.

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