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Efficiency of the New Zealand annual catch entitlement market
Marine Policy, 2015Abstract Balancing catch with annual catch entitlement (ACE) is crucial both for the financial viability of fishers and for the efficient operation of the New Zealand quota management system (QMS). This study examines the information channels that are used by fishers to search for ACE availability, and notes how these channels differ between large ...
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Deemed value arbitrage in the New Zealand annual catch entitlement market
Marine Policy, 2016Abstract New Zealand's Quota Management System (QMS) consists of a two tier operational structure: Quota shares in a fishstock provide an Annual Catch Entitlement (ACE) of the total allowable commercial catch (TACC) of the specific fishstock. Fishers operating in a multispecies fishery need a portfolio of ACE that matches the mix of their annual ...
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Auctions for Initial Sale of Annual Catch Entitlement
Land Economics, 2006We use a laboratory experiment, calibrated to a representative New Zealand fishery, to assess three sealed-bid, multi-unit demand auction mechanisms under consideration for allocating quota for species being introduced into the Quota Management System.
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