An article (idea) I came across that makes use of distributed negotiation and social welfare concepts:
"Iceland has not quite proved that fish can sing, but it has shown they can continue to flourish, even when hunted by their main predator, man. Central to its policy are the individual transferable quotas given to each fishing boat for each species on the basis of her average catch of that fish over a three-year period. This settles the boat’s share of the total allowable catch of that fish for the entire country. The size of this total is announced each year on the basis of scientific advice from the independent Marine Research Institute.
Subject to certain conditions, quotas can be traded among boats. Bycatch must not be discarded. Instead it must be landed and recorded as part of that boat’s quota. If she has exhausted her quota, she must buy one from another boat, though 20% of a quota may be carried forward a year, and 5% of the next year’s quota can be claimed in advance..."
(Source: The Economist, January 3rd 2009)
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