Please join SAFS today for a seminar with Dr. Dan Holland, economist with the Northwest Fisheries Science Center.
Quota Markets and Risk Pools in Multispecies Catch Share Systems
4:00-5:00 PM, social follows
UW School of Aquatic & Fishery Sciences, 102 Fishery Sciences
1122 NE Boat St, Seattle, Washington (map)
Most catch share systems allow transfers of catch quotas between fishermen. This allows quota to move to fishermen who can generate more profit from catch. In multispecies catch share systems, quota transferability plays a particularly important role since it is often difficult to control the species composition of catch, and fishermen must often acquire quota to cover unexpected catch. Quota prices in these fisheries can play an important role in ensuring efficient utilization of the resource. For species that have the potential to constrain harvest of a jointly caught target stock, quota prices should typically increase reducing the profitability of catching that species or potentially creating a penalty for doing so. This should incentivize fishers to change targeting behavior to reduce relative catch rates of “weak” fish stocks for which TACs are relatively more constraining and allow fuller utilization of TACs of species that are more abundant. However, there has been relatively little study of quota markets and it is not clear that quota markets work efficiently and generate prices that reveal the true value of quota, particularly for species taken primarily as incidental catch. I discuss here the function of quota markets in the British Columbia and US Pacific groundfish fisheries. In both of these fisheries fishermen rely on pricing strategies and non-market mechanisms to redistribute quota that do not appear to generate “efficient” quota prices though they may still be effective at moving quota to those who need it.
More information may be available on the 2014 Winter Seminars page.
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