Fisheries self-governance: corporate or cooperative structures?

The concept of self-governance of fisheries resources has implicitly assumed that self-governance would be democratic in structure. This concept of self-governance is a patterned on the democratic governance of cooperatives. The present analysis argues for a corporate concept of fisheries self-governance. A corporate governance structure provides a vehicle for effective joint decision-making by producers, but avoids the inefficient longrun incentives created by a cooperative governance structure.