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Beach nourishment as a dynamic capital accumulation problem

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  • Smith, Martin D.
  • Slott, Jordan M.
  • McNamara, Dylan
  • Brad Murray, A.

Abstract

Beach nourishment is a common coastal management strategy used to combat erosion along sandy coastlines. It involves building out a beach with sand dredged from another location. This paper develops a positive model of beach nourishment and generates testable hypotheses about how the frequency of nourishment responds to property values, project costs, erosion rates, and discounting. By treating the decision to nourish as a dynamic capital accumulation problem, the model produces new insights about coupled economic geomorphological systems. In particular, determining whether the frequency of nourishment increases in response to physical and economic forces depends on whether the decay rate of nourishment sand exceeds the discount rate.

Suggested Citation

  • Smith, Martin D. & Slott, Jordan M. & McNamara, Dylan & Brad Murray, A., 2009. "Beach nourishment as a dynamic capital accumulation problem," Journal of Environmental Economics and Management, Elsevier, vol. 58(1), pages 58-71, July.
    • Handle: RePEc:eee:jeeman:v:58:y:2009:i:1:p:58-71
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    References listed on IDEAS

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    Cited by:

    1. L. Richard Little & Brenda B. Lin, 2017. "A decision analysis approach to climate adaptation: a structured method to consider multiple options," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 22(1), pages 15-28, January.
    2. Megan Mullin & Martin D. Smith & Dylan E. McNamara, 2019. "Paying to save the beach: effects of local finance decisions on coastal management," Climatic Change, Springer, vol. 152(2), pages 275-289, January.
    3. Landry, Craig E. & Whitehead, John C., 2015. "Economic Values of Coastal Erosion Management: Joint Estimation of Use and Passive Use Values with Recreation and Contingent Valuation Data," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205441, Agricultural and Applied Economics Association.
    4. Li, Xiaoyu & Gopalakrishnan, Sathya & Klaiber, Allen, 2018. "To Build or Not to Build: Examining Coastal Vulnerability via Residential Development in North Carolina," 2018 Annual Meeting, August 5-7, Washington, D.C. 274443, Agricultural and Applied Economics Association.
    5. Yun Qiu & Sathya Gopalakrishnan & H. Allen Klaiber & Xiaoyu Li, 2020. "Dredging the sand commons: the economic and geophysical drivers of beach nourishment," Climatic Change, Springer, vol. 162(2), pages 363-383, September.
    6. Meri Davlasheridze & Qin Fan, 2019. "Valuing Seawall Protection in the Wake of Hurricane Ike," Economics of Disasters and Climate Change, Springer, vol. 3(3), pages 257-279, October.
    7. Meri Davlasheridze & Kayode O. Atoba & Samuel Brody & Wesley Highfield & William Merrell & Bruce Ebersole & Adam Purdue & Robert W. Gilmer, 2019. "Economic impacts of storm surge and the cost-benefit analysis of a coastal spine as the surge mitigation strategy in Houston-Galveston area in the USA," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 24(3), pages 329-354, March.
    8. Dylan E McNamara & Sathya Gopalakrishnan & Martin D Smith & A Brad Murray, 2015. "Climate Adaptation and Policy-Induced Inflation of Coastal Property Value," PLOS ONE, Public Library of Science, vol. 10(3), pages 1-12, March.
    9. Corral, Leonardo R. & Schling, Maja, 2017. "The impact of shoreline stabilization on economic growth in small island developing states," Journal of Environmental Economics and Management, Elsevier, vol. 86(C), pages 210-228.
    10. Massimo Bagarani & Annamaria De Vincenzo & Corrado Ievoli & Bruno Molino, 2020. "The Reuse of Sediments Dredged from Artificial Reservoirs for Beach Nourishment: Technical and Economic Feasibility," Sustainability, MDPI, vol. 12(17), pages 1-20, August.
    11. Gopalakrishnan, Sathya & Smith, Martin D. & Slott, Jordan M. & Murray, A. Brad, 2011. "The value of disappearing beaches: A hedonic pricing model with endogenous beach width," Journal of Environmental Economics and Management, Elsevier, vol. 61(3), pages 297-310, May.
    12. Sierra Woodruff & Todd K. BenDor & Aaron L. Strong, 2018. "Fighting the inevitable: infrastructure investment and coastal community adaptation to sea level rise," System Dynamics Review, System Dynamics Society, vol. 34(1-2), pages 48-77, January.
    13. Gopalakrishnan, Sathya & McNamara, Dylan & Smith, Martin D. & Murray, A. Brad, 2012. "The Effect Of Stochastic Storms On Optimal Beach Management," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 271515, Agricultural and Applied Economics Association.
    14. Hidekazu Yoshioka & Kunihiko Hamagami & Haruka Tomobe, 2023. "A Non-local Fokker-Planck Equation with Application to Probabilistic Evaluation of Sediment Replenishment Projects," Methodology and Computing in Applied Probability, Springer, vol. 25(1), pages 1-37, March.
    15. Beasley, William J. & Dundas, Steven J., 2018. "Hold the Line: The Determinants of shoreline armoring as an adaptive response," 2018 Annual Meeting, August 5-7, Washington, D.C. 274442, Agricultural and Applied Economics Association.
    16. Eli D. Lazarus, 2017. "Toward a Global Classification of Coastal Anthromes," Land, MDPI, vol. 6(1), pages 1-27, February.
    17. Landry, Craig E. & Shonkwiler, J. Scott & Whitehead, John C., 2020. "Economic Values of Coastal Erosion Management: Joint Estimation of Use and Existence Values with recreation demand and contingent valuation data," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).
    18. Qiu, Yun & Gopalakrishnan, Sathya, 2018. "Shoreline defense against climate change and capitalized impact of beach nourishment," Journal of Environmental Economics and Management, Elsevier, vol. 92(C), pages 134-147.
    19. Craig E. Landry & J. Scott Shonkwiler & John C. Whitehead, 2018. "Economic Values of Coastal Erosion Management: Joint Estimation of Use and Passive Use Values with Recreation Demand and Contingent Valuation Data," Working Papers 18-09, Department of Economics, Appalachian State University.
    20. Beasley, W. Jason & Dundas, Steven J., 2021. "Hold the line: Modeling private coastal adaptation through shoreline armoring decisions," Journal of Environmental Economics and Management, Elsevier, vol. 105(C).
    21. Qiu, Yun & Gopalakrishnan, Sathya, 2016. "Defending the Shoreline: A Duration Model of Beach Re-Nourishment," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236361, Agricultural and Applied Economics Association.
    22. Landry, Craig & Syphers, Steven & Keeler, Andrew, 2022. "Preferences for Post-storm Coastal Adaptation," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322385, Agricultural and Applied Economics Association.

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