The private fishery - and reality
Kailis, G. (2010). The private fishery - and reality. Fifteenth Biennial Conference of the International Institute of Fisheries Economics and Trade.
In discussing property rights, efficiency and fisheries management economic literature often refers to a hypothetical single owner, comparing it to fisheries with more fragmented ownership. Through a range of effort reductions, since the near collapse of the fishery in the early 1980s, the Exmouth Gulf Prawn fishery in Western Australia has emerged with a single owner. The fishery's economic, social and environmental performance was recently rated by a panel of experts at 9.8 out of 10. In the presentation the history and context in which a single operator emerged is outlined. Practical constraints and issues for a single owner are discussed in the context of the history of the fishery, corporate strategy, legislative restrictions and market structure. Comparison is also made with other prawn fisheries in Australia which have a more diverse ownership base.