Individual transferable catch quotas: Australian experience in the southern bluefin tuna fishery

The use of individual transferable catch quota in Australiaʹs southern bluefin tuna fishery resulted in a number of positive outcomes including a rapid adjustment of the fishery which benefited those who left the fishery, those remaining in the fishery and society as a whole. It is highly likely that many of these benefits would have been foregone had individual transferable catch quota not been introduced into the fishery.