Effects of individual quota systems on New Zealand and British Columbia fisheries

With the growing importance of individual transferable quotas (ITQs) in fisheries management, it is critical to document and understand what happens when individual quotas are implemented. In-person interviews with fishing business owners and others were conducted in 1987 and 1995 in New Zealand, where ITQs were implemented in 1986. Similar interviews and mail surveys were completed in 1993-1994 with participants in British Columbia's (Canada) halibut (Hippoglossus stenolepis) fishery, where individual vessel quotas were implemented in 1991. Results indicate (1) an end of the "race for fish," (2) industry participants' maximization of returns from quota holdings, and (3) strong influence of individual quota system design details on outcomes. Implications of ITQs for sustainable fisheries management are discussed.