Fox, Kevin JKompas, ThomasChe, Tuong NhuGrafton, Quentin2015-12-071364-985Xhttp://hdl.handle.net/1885/26055We present the first ex post study that quantitatively analyses the effects of a licence buy-back and enhanced quota trading on the profitability and productivity of individual vessels in a fishery. Using firm-level data and a profit index decomposition method, we find that small and large vessels and three different trawler fleets all experienced substantial productivity gains in the year immediately following a licence buy-back and the establishment of a quota brokerage service. The apparent ongoing benefits of the buy-back and increased quota trading over the sample period are in stark contrast to the generally unfavourable long-term outcomes commonly associated with vessel buy-backs in input-controlled fisheries.Keywords: decomposition analysis; fishery economics; productivity; profitability; quota system Capacity reduction; Fishery; Productivity; Quota trading200610.1111/j.1467-8489.2006.00331.x2015-12-07