In the case of fisheries, the collective action problem has been labeled
“illegal, unreported, and unregulated” (IUU) fishing by fishery managers.2 It is
a catchall term used to refer to those fishing activities that place undue and
uncontrolled pressure on sustainable marine production limits.3 IUU fishing is
not defined in the U.N. Convention on the Law of the Sea, the so-called
Constitution of the Oceans, but it is defined in the International Plan of Action
to Prevent, Deter and Eliminate Illegal, Unreported and Unregulated Fishing
(IPOA-IUU).4 Unfortunately, the definition, in trying to be comprehensive,
ends up somewhat convoluted, and stocks have continued to largely decline
since the IPOA-IUU was negotiated in 2001.5