This book examines the development of property rights in marine fisheries, and asks whether the obstacles to their continued development cannot be more easily overcome. The contributed chapters generally focus on the consequences of a lack of property rights of commercial and small-time fishers globally. National governments have recognized that the absence of such rights coupled with the technological advances in commerical fishing have resulted in widespread economic and environmental problems (e.g., overfishing, bycatching, highgrading, increased physical dangers, and lower profits). The most significant solution to these problems, and the predominate concern of this book, is the institution of Individual Transferable Quotas (ITQs), also known as Individual Fishing Quotas (IFQs). These are national and global policies, public- and private-sector managed allocations of the amount of various species of fish, at certain qualities can be harvested at particular times by fishers.

New Institutional Economics (NIE) has skyrocketed in scope and influence over the last three decades. This first Handbook of NIE provides a unique and timely overview of recent developments and broad orientations. Contributions analyse the domain and perspectives of NIE; sections on legal institutions, political institutions, transaction cost economics, governance, contracting, institutional change, and more capture NIE's interdisciplinary nature. This Handbook will be of interest to economists, political scientists, legal scholars, management specialists, sociologists, and others wishing to learn more about this important subject and gain insight into progress made by institutionalists from other disciplines. This compendium of analyses by some of the foremost NIE specialists, including Ronald Coase, Douglass North, Elinor Ostrom, and Oliver Williamson, gives students and new researchers an introduction to the topic and offers established scholars a reference book for their research.

This book traces the development of the standard property rights over five kinds of natural resource - inland rivers, ocean fisheries, petroleum resources, gold and base metals and forest resources - from classical times through to the 19th century. Completely private resources and those in the public (or Crown) lands are given equal attention and a simple supply-and-demand model is used to explain how property rights are altered over time. Scott also provides the reader with a unique set of characteristics for defining rights and numerous case studies and examples of their evolution, highlighting the increasing recourse to common law courts and government legislation and the problems caused by competing demands on the same, limited resources. This book provides a unique insight into the historical development of property rights and makes a special plea for the multiple-purpose and multi-owner management of resource rights. It will provide a valuable resource for those interested in resource management, economic history, property rights, and development.

"Increasing coastal populations, rising recreational demand, and growing conflicts with other users are adding to the challenge of managing marine recreational fisheries today. Traditional regulations - such as daily bag limits and seasonal closures - are often not enough to control fishing impacts and they tend to generate greater discontent and lower economic benefits in the angling community as they become more restrictive. This volume is the first to examine management approaches that promise to better control fishing, generate more information on fishing impacts, and give anglers more freedom to enjoy their sport."--BOOK JACKET.

The shift away from the management of individual resources to the broader perspective of ecosystems is no longer confined to academia and think tanks where it first began; the ecosystem paradigm also is beginning to take root in government policy and programs.This volume provides innovative and timely approaches for improving and sustaining socioeconomic benefits from LMEs. The authors describe methodologies and actions for moving forward in halting the downward resource sustainability spiral and advancing toward the recovery of depleted fish stocks, restoration of degraded habitats, and reduction and control of pollution within the framework of an ecosystem-based approach for the governance of LMEs.* First book to ever publish that focuses on the human dimension of large marine ecosystem management* Offers set of guidelines for possible interrelationship management programs* Addresses taxing issues and problems pertaining to the world's marine ecosystems* Provides a matrix of the interdependence of economic, social, cultural and governance elements

Winner of the SLS Peter Birks Prize for Outstanding Legal Scholarship 2009. The use of private property rights to regulate natural resources is a controversial topic because it touches upon two critical issues: the allocation of wealth in society and the conservation and management of limited resources. This book explores the extension of private property rights and market mechanisms to natural resources in international areas from a legal perspective. It uses marine fisheries to illustrate the issues that can arise in the design of regulatory regimes for natural resources. If property rights are used to regulate natural resources then it is essential that we understand how the law and values embedded within legal systems shape the development and operation of property rights in practice. The author constructs a version of property that articulates both the private and public function of property. This restores some much needed balance to property discourse. He also assesses the impact of international law on the use of property rights-a much neglected topic-and shows how different legal and socio-political values that inhere in different legal regimes fundamentally shape the construction of property rights. Despite the many claimed benefits to be had from the use of private property rights-based management systems, the author warns against an uncritical acceptance of this approach and, in particular, questions whether private property rights are the most suitable and effective arrangement of regulating of natural resources. He suggests that much more complex forms of holding, such as stewardship, may be required to meet physical, legal and moral imperatives associated with natural resources.

This book contains illuminating and carefully written literature reviews on the central topics of the economics of property rights and institutions. As a bonus, it includes two fascinating chapters on topics off the beaten path slavery and new types of property rights in environmental goods. This book will be indispensible for students and experienced scholars alike. Eric Posner, University of Chicago Law School, US This study covers property law and property rights, providing a full summary and comprehensive bibliography of the existing law, together with discussion from an economic perspective on the most important aspects of property law. Leading experts have brought together their knowledge and insight on a full range of issues including comparative property law and the history of property law to create a truly autonomous interdisciplinary resource. This essential reference work will strongly appeal to scholars and students enrolled in academic programmes of law and economics. Academic lawyers involved in research and teaching of private (common) law, practicing lawyers in the field of real estate law, as well as economists involved in researching development economics and transition economics will also find this an invaluable resource.