This paper provides a brief description of the evolution and current structure of the individual quota system (IQ) in the Icelandic fisheries. This particular fisheries managerial system was introduced at different times in different fisheries — in the herring fisheries in 1976, in the capelin...

This paper examines the economics of catch discarding in fisheries. To study this issue a simple dynamic fisheries model is constructed. On the basis of this model it is demonstrated that in a differentiated fishery discarding of catch may be socially optimal. The paper goes on to show that...

The failures of traditional target-species management have led many to propose an ecosystem approach to fisheries to promote sustainability. The ecosystem approach is necessary, especially to account for fishery-ecosystem interactions, but by itself is not sufficient to address two important...

"The purpose of this paper is to summarize some of the bargaining issues involved in collective action to address local common-pool problems and to illustrate them in three empirical cases. The importance of riming or the sequence of coalition building and the heterogeneity of the participant's...

"This paper provides new theoretical clarification and empirical evidence about relational contracts written for the exploitation of oil and gas reservoirs in the United States and Canada. To mitigate common pool losses, oil fields often are developed under unit operating agreements. These...