Why have systems similar to New Zealand's "individual transfer quota" system not been able to protect all animal life that is in danger of being overexploited?

Question

Quizplus · Accepted Answer

The individual transfer quota system relies on establishing property rights for a particular species within a particular fishing jurisdiction. However, for animals that migrate across borders, such as many fish species, establishing such property rights becomes difficult. Therefore, these systems may not be effective in protecting all animal life that is in danger of being overexploited. Option A is not the best choice as it is limited to only one species (tuna fish) and ignores the broader issue. Option B is not the best choice as it assumes that the only barrier to implementing similar systems is government backing, which is not necessarily true. Option D is not the best choice as it provides no explanation.

Why Have Systems Similar to New Zealand's "Individual Transfer Quota