The Premium of Marine Protected Areas: A Simple Valuation Model
AbstractThe article addresses the induced cost, the premium, from establishing a marine protected area in a deterministic model of a fishery. Outside the protected area, the fishery is managed optimally through total allowable catch quotas. The premium is found to be increasing and convex along the protection parameter. Biological measures are introduced to increase the understanding of the mechanisms in the bioeconomic system. Time-series solutions show that the net return per unit of fish increases after the protected area is established.
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 23 (2008)
Issue (Month): 2 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
Bioeconomics; dynamic programming; fisheries management; marine protected areas; migration; modeling; optimization; renewable resources.; International Development; International Relations/Trade; Political Economy; Research and Development/Tech Change/Emerging Technologies; C61; Q22; Q57.;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sanchirico, James & Wilen, James, 1998. "Marine Reserves: Is There a Free Lunch?," Discussion Papers dp-99-09, Resources For the Future.
- Sanchirico, James, 2000. "Marine Protected Areas as Fishery Policy: A Discussion of the Potential Costs and Benefits," Discussion Papers dp-00-23-rev, Resources For the Future.
- R. Grafton & Tom Kompas & Viktoria Schneider, 2005. "The Bioeconomics of Marine Reserves: A Selected Review with Policy Implications," Journal of Bioeconomics, Springer, vol. 7(2), pages 161-178, 01.
- Grune, Lars & Semmler, Willi, 2004. "Using dynamic programming with adaptive grid scheme for optimal control problems in economics," Journal of Economic Dynamics and Control, Elsevier, vol. 28(12), pages 2427-2456, December.
- Holland, Daniel S. & Brazee, Richard J., 1996. "Marine Reserves For Fisheries Management," Marine Resource Economics, Marine Resources Foundation, vol. 11(3).
- Hannesson, Rognvaldur, 1998. "Marine Reserves: What Would They Accomplish?," Marine Resource Economics, Marine Resources Foundation, vol. 13(3).
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