Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota
Fishers with individual catch quota, but limited control over the mix of species caught, depend on trade and catch–quota balancing allowances to fully utilize their quota without discarding. However, these allowances can theoretically lead to overfishing if total allowable catches (TACs) are consist...
Published in: | Proceedings of the National Academy of Sciences |
---|---|
Main Authors: | , , , , |
Format: | Text |
Language: | English |
Published: |
National Academy of Sciences
2020
|
Subjects: | |
Online Access: | http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7547151/ http://www.ncbi.nlm.nih.gov/pubmed/32958660 https://doi.org/10.1073/pnas.2008001117 |
id |
ftpubmed:oai:pubmedcentral.nih.gov:7547151 |
---|---|
record_format |
openpolar |
spelling |
ftpubmed:oai:pubmedcentral.nih.gov:7547151 2023-05-15T15:27:43+02:00 Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota Oostdijk, Maartje Byrne, Conor Stefánsson, Gunnar Santos, Maria J. Woods, Pamela J. 2020-10-06 http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7547151/ http://www.ncbi.nlm.nih.gov/pubmed/32958660 https://doi.org/10.1073/pnas.2008001117 en eng National Academy of Sciences http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7547151/ http://www.ncbi.nlm.nih.gov/pubmed/32958660 http://dx.doi.org/10.1073/pnas.2008001117 Copyright © 2020 the Author(s). Published by PNAS. https://creativecommons.org/licenses/by-nc-nd/4.0/ https://creativecommons.org/licenses/by-nc-nd/4.0/This open access article is distributed under Creative Commons Attribution-NonCommercial-NoDerivatives License 4.0 (CC BY-NC-ND) (https://creativecommons.org/licenses/by-nc-nd/4.0/) . CC-BY-NC-ND Proc Natl Acad Sci U S A Social Sciences Text 2020 ftpubmed https://doi.org/10.1073/pnas.2008001117 2020-10-25T00:26:53Z Fishers with individual catch quota, but limited control over the mix of species caught, depend on trade and catch–quota balancing allowances to fully utilize their quota without discarding. However, these allowances can theoretically lead to overfishing if total allowable catches (TACs) are consistently exceeded. This study investigates usage of balancing allowances by the Icelandic demersal fleet over 2001–2017, for over 1,900 vessels. When a vessel’s demersal catch exceeds owned and leased quota for a given species, the gap can be bridged by borrowing quota from the subsequent fishing period or transforming unutilized quota in other species, restricted by limits. Conversely, excess quota can be saved or transformed into quota for species where there is a shortfall. We found evidence that balancing behavior is frequently similar across the fleet. Transformations are consistent with indicators of a general quota shortage and potential for arbitrage caused by differences in conversion ratios used for transformation and lease prices. Larger companies contribute more to these patterns. Nevertheless, TAC overages are generally modest especially in recent years—key reasons appear to be the tightening of vessel transformation limits and the central role of Atlantic cod, which is the main target species but cannot be persistently overfished due to a specific prohibition on positive transformations into the species. These results show how the tailored design of the Icelandic catch–quota balancing system has helped in balancing economic and ecological goals of management. We suggest policy changes that could further reduce ecological risks, e.g., prioritizing between-year transfers over transformations. Text atlantic cod PubMed Central (PMC) Tac ENVELOPE(-59.517,-59.517,-62.500,-62.500) Proceedings of the National Academy of Sciences 117 40 24771 24777 |
institution |
Open Polar |
collection |
PubMed Central (PMC) |
op_collection_id |
ftpubmed |
language |
English |
topic |
Social Sciences |
spellingShingle |
Social Sciences Oostdijk, Maartje Byrne, Conor Stefánsson, Gunnar Santos, Maria J. Woods, Pamela J. Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
topic_facet |
Social Sciences |
description |
Fishers with individual catch quota, but limited control over the mix of species caught, depend on trade and catch–quota balancing allowances to fully utilize their quota without discarding. However, these allowances can theoretically lead to overfishing if total allowable catches (TACs) are consistently exceeded. This study investigates usage of balancing allowances by the Icelandic demersal fleet over 2001–2017, for over 1,900 vessels. When a vessel’s demersal catch exceeds owned and leased quota for a given species, the gap can be bridged by borrowing quota from the subsequent fishing period or transforming unutilized quota in other species, restricted by limits. Conversely, excess quota can be saved or transformed into quota for species where there is a shortfall. We found evidence that balancing behavior is frequently similar across the fleet. Transformations are consistent with indicators of a general quota shortage and potential for arbitrage caused by differences in conversion ratios used for transformation and lease prices. Larger companies contribute more to these patterns. Nevertheless, TAC overages are generally modest especially in recent years—key reasons appear to be the tightening of vessel transformation limits and the central role of Atlantic cod, which is the main target species but cannot be persistently overfished due to a specific prohibition on positive transformations into the species. These results show how the tailored design of the Icelandic catch–quota balancing system has helped in balancing economic and ecological goals of management. We suggest policy changes that could further reduce ecological risks, e.g., prioritizing between-year transfers over transformations. |
format |
Text |
author |
Oostdijk, Maartje Byrne, Conor Stefánsson, Gunnar Santos, Maria J. Woods, Pamela J. |
author_facet |
Oostdijk, Maartje Byrne, Conor Stefánsson, Gunnar Santos, Maria J. Woods, Pamela J. |
author_sort |
Oostdijk, Maartje |
title |
Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
title_short |
Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
title_full |
Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
title_fullStr |
Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
title_full_unstemmed |
Catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
title_sort |
catch–quota matching allowances balance economic and ecological targets in a fishery managed by individual transferable quota |
publisher |
National Academy of Sciences |
publishDate |
2020 |
url |
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7547151/ http://www.ncbi.nlm.nih.gov/pubmed/32958660 https://doi.org/10.1073/pnas.2008001117 |
long_lat |
ENVELOPE(-59.517,-59.517,-62.500,-62.500) |
geographic |
Tac |
geographic_facet |
Tac |
genre |
atlantic cod |
genre_facet |
atlantic cod |
op_source |
Proc Natl Acad Sci U S A |
op_relation |
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7547151/ http://www.ncbi.nlm.nih.gov/pubmed/32958660 http://dx.doi.org/10.1073/pnas.2008001117 |
op_rights |
Copyright © 2020 the Author(s). Published by PNAS. https://creativecommons.org/licenses/by-nc-nd/4.0/ https://creativecommons.org/licenses/by-nc-nd/4.0/This open access article is distributed under Creative Commons Attribution-NonCommercial-NoDerivatives License 4.0 (CC BY-NC-ND) (https://creativecommons.org/licenses/by-nc-nd/4.0/) . |
op_rightsnorm |
CC-BY-NC-ND |
op_doi |
https://doi.org/10.1073/pnas.2008001117 |
container_title |
Proceedings of the National Academy of Sciences |
container_volume |
117 |
container_issue |
40 |
container_start_page |
24771 |
op_container_end_page |
24777 |
_version_ |
1766358138348371968 |