There could be two types of fishing licenses in the SLER
licensing system: annual fishing licenses and daily fishing
licenses. Fishers holding an annual license may be allowed
through the allocation of fishing quotas such as Individual
Transferable Quotas (ITQs) among fishers. ITQ is a type of
tradable permit that specifies catch amounts and may,
according to Hartwick and Olewiler (1998), lead to an
optimal amount of effort and harvest.