The value of annual trade in wildlife is estimated at $200 billion and growing. The precise contribution by individual species is difficult to estimate owing to illegal trades and poor economic information along the trade chain. The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) is an agreement between governments that aims to ensure that international trade in specimens of wild animals and plants does not threaten their survival. It works to prevent illegal trade or trans-shipment. CITES recognises that economic incentives could be used to make wildlife trade more responsible through the use of individual transferable quotas (ITQ) system.This study explores the applicability of the ITQ system on the threatened sturgeon population in the Caspian Sea. Numerous case studies are consulted highlighting limitations of the ITQ system and suggesting research necessary to design and implement a more sustainable system. Findings suggest, that an integrated approach is required which incorporates economic, social, political and biological information, adequately reflecting local conditions

http://www.iied.org/pubs/display.php?o=9448IIED