Ex ante evaluation of the costs and benefits of individual transferable quotas: A case-study of seven Australian commonwealth fisheries |
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| Authors: | RQ Grafton A McIlgorm |
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| Institution: | 1. Crawford School of Economics and Government, The Australian National University, Canberra, ACT 0200, Australia;2. National Marine Science Centre, The University of New England and Southern Cross University, P.O. Box J321, Coffs Harbour, New South Wales 2450, Australia |
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| Abstract: | Individual transferable quotas (ITQs) have been introduced in a number of different countries, including Australia. Using seven Australian commonwealth fisheries the paper undertakes an ex ante cost–benefit analysis whether to introduce ITQs into these fisheries. The analysis uses five cost–benefit criteria, and in particular the gross value of production (GVP), to evaluate whether ITQs should be introduced or not. For fisheries where the net benefits do not currently justify ITQs, a pathway is provided to improve management outcomes with the use of individual transferable efforts units (ITEs). |
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| Keywords: | Individual transferable quotas (ITQs) Individual transferable effort (ITEs) units Australian fisheries |
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