That's one problem I haven't been able to figure out. Property rights are the bedrock of a capitalist free market. However in this case, not only are the fish not owned until they're caught, the oceans themselves are not owned by anyone.
Perhaps some sort of fish "ranches" established in the ocean would help in the long run. But I don't know enough about the relevant technology or ecology to know how realistic that might be.
You make a good point about schooling behavior assisting overfishing even amid scarcity. But do all the "table fish" (first time I've heard that term incidentally) exhibit this behavior? Or only some species?
In any case, the demand side incentive to raise prices would still be largely intact. Just delayed.
This is a problem well understood in CONSERVATIVE economic theory. It is called "the tragedy of the commons." When something, like the high seas, belong to all takers, there is no counterbalance to the taking except devastation of an apparently not unlimited resource. The long term economic solution, if it is one, is apparently fish farming where private property rights can secure a return to private capital investment. The only question is whether the oceans must remain depleted of fishlife in order for this to occur. Unfortunately for libertarians this is the kind of issue that can only be addressed by public policy - unless we want to turn the oceans into private property - just as the commons were enclosed in England.