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Correction published on 31 August 2012, see Sustainability 2012, 4(9), 2051-2053.

Open AccessArticle
Sustainability 2011, 3(1), 184-215; doi:10.3390/su3010184

System Dynamics Modeling of Individual Transferable Quota Fisheries and Suggestions for Rebuilding Stocks

Information Systems Department, Richard J. Wehle School of Business, Canisius College, 2001 Main St. Buffalo, New York, NY 14208, USA
Received: 9 December 2010 / Accepted: 7 January 2011 / Published: 12 January 2011
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Abstract

This paper develops a system dynamics model of Individual Transferable Quota (ITQ) systems in order to differentiate ITQ from total allowable catch (TAC) effects and to identify areas where policy changes and management improvement may be most effective. ITQ systems provide incentives for long-term stewardship but when fisheries are managed “at the edge,” the incentives are inadequate for stock rebuilding. The free-market design of ITQ systems means that fishermen may be in conflict with the long-run, public sustainability goals of fishery management. An adaptive control scheme with a contingent public/private transfer payment is proposed to improve long-term results for both the local community and the general public.
Keywords: fisheries management; individual transferable quota (ITQ); system dynamics; co-management; precautionary approach; sustainability; ecosystem based management fisheries management; individual transferable quota (ITQ); system dynamics; co-management; precautionary approach; sustainability; ecosystem based management
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).

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MDPI and ACS Style

Garrity, E.J. System Dynamics Modeling of Individual Transferable Quota Fisheries and Suggestions for Rebuilding Stocks. Sustainability 2011, 3, 184-215.

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