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(205.) Christopher Costello & Robert Deacon, The Efficiency Gains from Fully Delineating Rights in an ITQ Fishery, 22 Marine Resource Econ.
On the nature of ITQs under the New Zealand fisheries regime, see also Lim v McLean,  1 NZLR 641 (PC).
157, 164-65 (2016) (discussing the implementation ITQs in this fishery).
They discuss different domains of fairness and the need to consider Individual Transferable Quota (ITQ) management 'not only from an outcome but also from a process perspective' (Doering et al., 2016: 746).
Improvements in 12 of 20 stocks after ITQs were introduced suggest that ITQs can be an effective component of fisheries management strategies, but eight of the stocks continued to decline after ITQs were introduced.
Individual Transferable Quota (ITQ) systems have been criticised for leading to concentrated ownership and an erosion of critical mass in fishing communities (Arnason, 2005).
British Columbia (BC) established an individual transferable quota (ITQ) system that allowed harvesters to suspend landings during the Alaskan derby, when prices were low (Casey et al.
The adoption of ITQs inevitably produces some economic dislocation and may create winners and losers, as does any significant regulatory change.
Arnason, "Property rights in fisheries: Iceland's experience with ITQs," Reviews in Fish Biology and Fisheries, vol.
Additionally, individual transferable quotas (ITQs) that have the potential to reduce excess competition and investment common in limited entry and open-access fisheries  and individual quotas of habitat impact units (HIU) to mitigate possible habitat damage arising from some forms of harvesting, such as bottom trawling , could be two good alternatives for BOB fishery management.
management systems, such as individual transferable quotas (iTQs) and
perpetual harvesting rights known as individual transferable quotas ('ITQs')"); see also James Salzman & J.B.
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