Why ITQs on target species are inefficient at achieving ecosystem based fisheries management outcomes

The effectiveness of managing fisheries through the allocation of catch rights, including Individual Transferrable Quota's (ITQs), has been the subject of a number of recent reviews. Inspection of these reviews suggests that the effectiveness of ITQ and similar catch rights schemes in meeting single species sustainability objectives differs from their effectiveness in meeting broader Ecosystem Based Fisheries Management objectives, especially in terms of managing effects on associated and dependent species and habitats. This should not be a surprise, given the attributes of rights-based neoliberal market policy instruments, as discussed here.