Young, Oran R.Webster, D. G.Cox, Michael E.Raakjaer, JesperBlaxekjaer, Lau ØfjordEinarsson, N ́ıelsVirginia, Ross A.Acheson, JamesBromley, DanielCardwell, EmmaCarothers, CourtneyEythorsson, EinarHowarth, Richard B.Jentoft, SveinMcCay, Bonnie J.McCormack, FionaOsherenko, GailPinkerton, Evelynvan Ginkel, RobWilson, James A.Rivers, Louie RiversWilson, Robyn S.2023-06-272023-06-272018-09-110027-8424https://hdl.handle.net/10289/15804In fisheries management—as in environmental governance more generally—regulatory arrangements thatare thought to be helpful in some contexts frequently become panaceas or, in other words, simpleformulaic policy prescriptions believed to solve a given problem in a wide range of contexts, regardlessof their actual consequences. When this happens, management is likely to fail, and negative side effectsare common. We focus on the case of individual transferable quotas to explore the panacea mindset, a setof factors that promote the spread and persistence of panaceas. These include conceptual narratives thatmake easy answers like panaceas seem plausible, power disconnects that create vested interests in pan-aceas, and heuristics and biases that prevent people from accurately assessing panaceas. Analysts havesuggested many approaches to avoiding panaceas, but most fail to conquer the underlying panaceamindset. Here, we suggest the codevelopment of an institutional diagnostics toolkit to distill the vastamount of information on fisheries governance into an easily accessible, open, on-line database of check-lists, case studies, and related resources. Toolkits like this could be used in many governance settings tochallenge users’understandings of a policy’s impacts and help them develop solutions better tailored totheir particular context. They would not replace the more comprehensive approaches found in the liter-ature but would rather be an intermediate step away from the problem of panaceas.application/pdfEnglish© 2018. This work is licensed under a CC BY 4.0 licence.Science & TechnologyMultidisciplinary SciencesScience & Technology - Other Topicsgovernancefisheriespanacea mindsetindividual transferable quotasinstitutional diagnosticsPROPERTY-RIGHTSPACIFIC HALIBUTITQ MANAGEMENTCATCH SHARESBRISTOL BAYNEW-ZEALANDPOWERSUSTAINABILITYPRIVATIZATIONICELANDinstitutional diagnosticsindividual transferable quotaspanacea mindsetfisheriesJournal Article10.1073/pnas.1716545115