This paper analyses effects of a shift from input to output controls in Australia's Southern Shark Fishery. We show that the use of two management tools--individual transferable quotas and a "partnership approach"--was flawed and argue that primary contributing causes were the unjustified expectation that quota management would serve as a [`]technical fix' to a variety of presumed problems, the discounting of social effects and the extreme lack of stability in the organizational structure within which this fishery was situated.