That would presuppose that they know there is going to be a catch history or something like that. But clearly, we've seen a big recapitalization in the lobster fishery, and that's been driven by an attempt to maximize catch, not by concern about going to quotas or anything like that. In some of the other ITQ fisheries, we just had extraordinarily extreme situations.
For example, look at the black cod and halibut on the west coast, when they went ITQ. In the last competitive fishery they had—one was nine days and the other was fourteen days—they glutted the markets and they had bad outcomes. So when they went to ITQ, they were looking at it from the point of view of a different approach to get out of a very unacceptable situation.
I don't know that I can recall where you've seen capitalization in front of going to ITQ in anticipation of getting a bigger boat or a bigger share of the quota. I don't think that's been the case, because it's pretty risky, obviously. If you end up with less than you need to run that vessel, you have a problem. We've seen that actually happen in the past, where in some locations they went to ITQ and then the vessels changed over time. They ended up leaving the ones that were fat and very hard to push through the water. Over time they were replaced by more reasonable units.