Evaluation of Externality Management Instruments in Marine Fisheries
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New Zealand marine fishing activities create many types of environmental externalities,
which by law must be internalised. Selection of best internalisation instruments can be aided
by following a hierarchical decision process, which first screens the universe of instruments
against implementation criteria to establish the feasible set. Instruments in the feasible set
can be evaluated against a range of environmental, Treaty of Waitangi, economic, sociocultural
and management criteria. This approach to selection can be formalised in decision
support software to provide a useful tool for fisheries management agencies.