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An Evaluation of Fisheries Policies Available to Australia for the Management of Southern Blue Fin Tuna Fishery

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  • Economics


In the absence of proper management, fishery resource tends to be exploited as a common property resource with a tendency towards over-exploitation. In the absence of appropriate property rights, the exploitation of a common property such as the fisheries may lead to over exploitation (and possible extinction of a species but not with migratory species such as the southern blue fin tuna) and externalities both contemporaneous and inter-generational. The paper aims to identify the various economic policy instruments that may be available and then uses a ‘cubic’ model to select the best model suitable for the blue fin tuna fishery. Price control is selected as the appropriate policy instrument, even though individual transferable catch quota is also a possibility. Price control is based on levying a tax on catches and is oriented towards economic efficiency.

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