The scientific literature on fisheries considers fisheries management to be an outstanding examplar of the problems of a sustainable use of renewable natural resources. The three basic and interrelated problems in fisheries are the biological problem, the economic problem, and the environmental problem. This chapter focuses on three perspectives of governance that dominate the theory and practice of fisheries management. These include hierarchical governance, market governance, and participatory governance. A related difference between market governance and participation is that advocates of the market solution usually evaluate the government only for its efficiency and effectiveness. From a market perspective, co-operation depends on and results from the refinement of property rights. The market perspective tries to construct a world in which there will no longer be any discrepancies between the private and the public interest by changing financial incentives. Such a society has no need for individual responsibility.

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Vliet, L.M, & Dubbink, W. (Wim). (2019). Evaluating governance: State, market and participation compared. In Creative Governance: Opportunities for Fisheries in Europe (pp. 11–30). doi:10.4324/9780429463761-2