a. Why did the fish catch increase in New Zealand after the amount that each fisherman could catch was limited by a quota?
b. Given your answer to part a, would an individual fisherman in New Zealand want to catch more fish than he’s allowed, if he knew no one would ever catch him?
c. So given your answer to part b, does the New Zealand system depend on government enforcement to work, or will individual fishermen agree out of self-interest to abide by the ITQ?