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Economic Effects of an Ocean Acidification Catastrophe

Author

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  • Stephen G. Colt
  • Gunnar P. Knapp

Abstract

We assess the potential magnitude of the economic effects of an ocean acidification (OA) catastrophe by focusing on marine ecosystem services most likely to be affected. It is scientifically plausible that by 2200 OA could cause a complete collapse of marine capture fisheries, complete destruction of coral reefs, and significant rearrangement of marine ecosystems. Upper-bound values for losses from the first two effects range from 97 to 301 billion 2014 dollars per year (0.09 - 0.28% of current world GDP). We argue that aquaculture output would not be reduced, due to the high potential for adaptation by this young industry.

Suggested Citation

  • Stephen G. Colt & Gunnar P. Knapp, 2016. "Economic Effects of an Ocean Acidification Catastrophe," American Economic Review, American Economic Association, vol. 106(5), pages 615-619, May.
    • Handle: RePEc:aea:aecrev:v:106:y:2016:i:5:p:615-19
    Note: DOI: 10.1257/aer.p20161105
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    Cited by:

    1. Lomborg, Bjorn, 2020. "Welfare in the 21st century: Increasing development, reducing inequality, the impact of climate change, and the cost of climate policies," Technological Forecasting and Social Change, Elsevier, vol. 156(C).
    2. Dorman,Peter, 2022. "Alligators in the Arctic and How to Avoid Them," Cambridge Books, Cambridge University Press, number 9781316516270.

    More about this item

    JEL classification:

    • Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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