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

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

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

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Received: 9 December 2010; Accepted: 7 January 2011 / Published: 12 January 2011
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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
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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.

AMA Style

Garrity EJ. System Dynamics Modeling of Individual Transferable Quota Fisheries and Suggestions for Rebuilding Stocks. Sustainability. 2011; 3(1):184-215.

Chicago/Turabian Style

Garrity, Edward J. 2011. "System Dynamics Modeling of Individual Transferable Quota Fisheries and Suggestions for Rebuilding Stocks." Sustainability 3, no. 1: 184-215.

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