Abstract
The notion of restricting the amount of quota shares that can be owned by a single entity (sometimes called excessive share limits or ownership caps) is almost universal in fisheries managed with ITQs. While there is no general agreement on exactly what this means, the focus is normally on monopoly power and the attainment of management objectives or equity goals. This paper addresses the monopoly power issue and derives a formula for determining the maximum percentage any one entity can control before incentives to withhold production become operative. Implications for general and specific policy analysis are provided.
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