Fishery Cooperatives as an Alternative to ITQs: Implications of the American Fisheries Act

摘要: The United States Congress recently passed a law that creates an alternative to individual transferable quota (ITQ) management. American Fisheries Act promises the ability rationalize one of world's largest fisheries, North Pacific pollock fishery, without overt appearance allocating permanent property rights public resource. enabled fishers form cooperative bargaining units are guaranteed fixed share total allowable catch (TAC) providing they deliver historic processors. This paper explores evolution policy change and innovative use fishery cooperatives advance voluntary decapitalization rationalization intended benefit both vessels Game theory offers insights into likelihood achieving congressional intent. It is argued while Pareto improving, it may violate legislative intent win-win introduce market failure attempting ...