The Privatization of the Oceans

After tracing the development of the law of the sea since the sixteenthcentury Hannesson considers what form property rights in fisheries might takeand examines... » 

After tracing the development of the law of the sea since the sixteenthcentury Hannesson considers what form property rights in fisheries might takeand examines the forces behind the establishment of exclusive use rights tofish. He argues that one form of exclusive use rights individual transferablequotas ITQs best promotes efficiency in the use of fish resources. Hepresents case studies of ITQ development ranging from successful establishmentin Canada and New Zealand to failures in Chile and Norway to experiments withITQs in Iceland and the United States. «