Individual transferable quotas
Published: December 11, 2006, 2:42 pm
Updated: December 11, 2006, 2:42 pm
This article has been reviewed by the following Topic Editor:
S. Niggol Seo PhD
Individual transferable quotas are one means used in fisheries to limit the magnitude of the harvest to sustainable levels. After setting a total allowable catch that is compatible with preserving the population, individual harvesting quotas are parceled out to individual fishers such that the sum of the individual quotas equals the total allowable catch.
Fishers must surrender sufficient quota to cover their harvest. When harvests are not legitimized by sufficient quota, sanctions are imposed. Initial quota allocations are typically based at least in part on past fishing experience.
In addition to simply using their quota to justify harvest, quota recipients also have the option of buying more or selling any excess to others.
Advantages of successful transferable quota systems include the prevention of overfishing, preserving the stock of fish, and raising both the value of the fishery and the profits derived from it.
Not all applications of this approach have been successful, however. Success requires effective monitoring and enforcement, and in fisheries this is sometimes a significant challenge.
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Citation
Tom Tietenberg (Lead Author);S. Niggol Seo PhD (Topic Editor) "Individual transferable quotas". In: Encyclopedia of Earth. Eds. Cutler J. Cleveland (Washington, D.C.: Environmental Information Coalition, National Council for Science and the Environment). [First published in the Encyclopedia of Earth December 11, 2006; Last revised Date December 11, 2006; Retrieved June 19, 2013 <http://www.eoearth.org/article/Individual_transferable_quotas>
The Author
Tom Tietenberg is the author or editor of eleven books (including Environmental and Natural Resource Economics, one of the best selling textbooks in the field, and Emissions Trading, one of the most widely cited books in the tradable permits literature) as well as over one hundred articles and essays on environmental and natural resource economics. Elected President of the Association of Environmental and Natural Resource Economists (AERE) in 1987-8 and designated an AERE Fellow in 2006, he has ... (Full Bio)
Individual transferable quotas are one means used in fisheries to limit the magnitude of the harvest to sustainable levels. After setting a total allowable catch that is compatible with preserving the population, individual harvesting quotas are parceled out to individual fishers such that the sum of the individual quotas equals the total allowable catch.
Fishers must surrender sufficient quota to cover their harvest. When harvests are not legitimized by sufficient quota, sanctions are imposed. Initial quota allocations are typically based at least in part on past fishing experience.
In addition to simply using their quota to justify harvest, quota recipients also have the option of buying more or selling any excess to others.
Advantages of successful transferable quota systems include the prevention of overfishing, preserving the stock of fish, and raising both the value of the fishery and the profits derived from it.
Not all applications of this approach have been successful, however. Success requires effective monitoring and enforcement, and in fisheries this is sometimes a significant challenge.
Are you absolutely sure you want to delete this article? This process cannot be undone and is permanent.
Yes, Delete This Article
Are you absolutely sure you want to remove this article? This process cannot be undone and is permanent.
Yes, Remove This Article
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