Assessment of alternative approaches to implementing Individual Transferable Quotas (ITQs) in the Australian Northern Prawn Fishery

The Australian Federal government is determined to introduce ITQs in all Commonwealth fisheries, including the Northern Prawn Fishery (NPF) by 2010. This project investigated the most efficient and effective means of using ITQs in the NPF given it is a multispecies fishery for short lived species with highly uncertain and variable stock sizes. Many stakeholders are concerned that this form of management will not work well in this case. Key approaches were case studies of rights based management, development of a cross cutting modelling analysis including quantitative Management Strategy Evaluation (MSE) and specific advice on the most risk averse approach.