We have all heard about problems of overfishing and how quotas and incentive mechanisms have been effective in slowing the depletion of stocks of endangered fish.  But while over-utilization of a common resource can be addressed with such measures, it is trickier to implement schemes that incentivize investment toward actively replenishing depleted fisheries.   The problem is that any actor bears all of the investment cost but, given the common pool, enjoys only a small fraction of the benefits.

Enter Giant Robotic Roaming Fish Farms.  These are essentially mobile fences in the sea that have the potential of bringing the benefits of coastal fish farming to the open waters solving a number of traditional problems.

Traditional fish farms typically consist of cages submerged in shallow, calm waters near shore, where they are protected from the weather and easily accessible for feeding and maintenance.

But raising fish in such close quarters can contribute to the spread of disease among the animals, and wastes may foul the waters. Cages must be moved to keep the waters clean and the fish healthy.

Deepwater cages offer cleaner, more freely circulating ocean water and natural food, which can yield tastier fish.

Fences create property rights and property rights solve incentive problems.  As an illustration, here is a remarkable paper demonstrating the rapid advances in agricultural development in the American plains that coincided with the invention of barbed wire.