Assessing catch shares' effects evidence from Federal United States and associated British Columbian fisheries

What are the effects of transitioning traditionally managed fisheries to incentive-based catch shares fisheries? In a study of all major United States federal catch share fisheries and associated shared stock fisheries in British Columbia, catch shares result in environmental improvements, economic improvements, and a mixture of changes in social performance, relative to the race for fish under traditional management. Environmentally, compliance with total allowable catch increases and discards decrease. Economically, vessel yields rise, total revenues grow, and long-term stock increases are encouraged. Socially, safety increases, some port areas modestly consolidate, needed processing capacity often reduces, and labor markets shift from part time jobs to full time jobs with similar total employment. Newer catch shares address many social concerns through careful design.