Marine capture fisheries face major and complex challenges: habitat degradation, poor economic returns, social hardships from depleted stocks, illegal fishing, and climate change, among others. The key factors that prevent the transition to sustainable fisheries are information failures,...

Fishermen around the world are usually remunerated by shares. Iceland is no exception in that respect. The fixed wage systems that have been tried out have been short-lived and their utilization limited. The fundamental question asked in this paper is: Why do almost all vessel owners use the...

The model developed in this paper attempts to provide an explanation of the fact that Icelandic vessel owners and Icelandic skippers do not share costs of operation of a vessel. In the model a skipper is contracted to take a fishing vessel to the fishing ground. The skipper is remunerated with a...