Declining fish stocks is a major environmental problem all around the world - one that is jeopardizing the livelihoods of many coastal communities.  For policy makers dealing with this problem, the most pressing challenge is to design regulations that balance the needs of conservation with those of the fishing communities. This study from an important fishing area in the Philippines has found that current regulations to deal with overfishing are neither cost-effective nor address the underlying problems of overexploitation of fish stocks and open access to fishing areas.  The study suggests that a tradable quota system may provide an answer to the problem and suggests policies that would back up such an approach.

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