"While the Icelandic fisheries have been managed by individual transferable quotas (ITQs) for almost a decade and the fisheries sector seems to be performing well in economical terms, there is still no consensus about quota issue. Lately, the difficult situation of fisheries communities short of...

"Fisheries management by individual transferable quotas (ITQ's) is being advocated by several fisheries economists as a solution to 'tragedy of commons' situations in the fisheries. Until lately, the studies of ITQ's have been purely theoretical, but now it is possible to study how the system...