Splitting the catch, remuneration of Icelandic fishermen in a Sea of change

Abstract The general rules governing the remuneration of salary earners in fisheries are relatively similar across countries and across time. The form of remuneration has evolved from payment in kind to pecuniary payment. But there is almost always some link between the value (size) of the catch and remuneration of the crew of a fishing vessel. Introduction of Individual Transferable Quotas (ITQs) in the Icelandic fisheries did alter fundamental premises for this arrangement as size of catch per vessel is no longer an unknown parameter.