Cameron Birchall presented his research on fishing rights market. Despite robust evidence that catch share programs reduce the risk of fishery collapse, we do not have similarly robust evidence that catch share programs improve fishery value. Using fishing rights transactions data in New Zealand, Cameron first documents a large rise in the value of fishing rights. In a next step, Cameron explores how to use catch effort data to decompose this increase in fishery value into a number of possible explanations. For example, were fishing rights reallocated to more efficient fishers? Or did all fishers become more efficient?