Regional Fishery Management Organization as Games in Coalitional Form

This paper examines how a Regional Fisheries Management Organization (RFMO) might successfully achieve effective control of a high seas fishery in the context of partial cooperation. We analyse the feasible allocations of property rights among members of a given RFMO and coalitions of potential entrants. We demonstrate that the modified Shapley value is an appropriate device for the division of the gains from both partial and full cooperations.