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Saving the Seas: The Economic Justification for Marine Reserves

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  • Tom Kompas
  • Pham Van Ha
  • R. Quentin Grafton

Abstract

We contribute to the understanding of marine reserves and the management of renewable resources with uncertainty. We show that the key benefit of reserves is that they increase resilience, or the speed it takes a population to return to a former state following a negative shock. Resilience can also increase resource rents even with optimal harvesting. We contradict the accepted wisdom that reserves have no value if harvesting is optimal, reserves and optimal output controls are equivalent, reserves have value only with overexploited populations and that reserves must be large to offer benefits to fishers.

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File URL: https://crawford.anu.edu.au/degrees/idec/working_papers/IDEC04-3.pdf
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Bibliographic Info

Paper provided by International and Development Economics in its series International and Development Economics Working Papers with number idec04-3.

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Length: 25 pages
Date of creation: 2004
Date of revision:
Handle: RePEc:idc:wpaper:idec04-3

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References

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  1. Alp E. Atakan, 2003. "Stochastic convexity in dynamic programming," Economic Theory, Springer, vol. 22(2), pages 447-455, 09.
  2. Sanchirico, James N. & Wilen, James E., 2001. "A Bioeconomic Model of Marine Reserve Creation," Journal of Environmental Economics and Management, Elsevier, vol. 42(3), pages 257-276, November.
  3. Caddy, J. F. & Gulland, J. A., 1983. "Historical patterns of fish stocks," Marine Policy, Elsevier, vol. 7(4), pages 267-278, October.
  4. Gaspar, Jess & L. Judd, Kenneth, 1997. "Solving Large-Scale Rational-Expectations Models," Macroeconomic Dynamics, Cambridge University Press, vol. 1(01), pages 45-75, January.
  5. Kenneth L. Judd, 1997. "Computational Economics and Economic Theory: Substitutes or Complements," NBER Technical Working Papers 0208, National Bureau of Economic Research, Inc.
  6. repec:cup:macdyn:v:1:y:1997:i:1:p:45-75 is not listed on IDEAS
  7. Sanchirico, James N. & Wilen, James E., 1999. "Bioeconomics of Spatial Exploitation in a Patchy Environment," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 129-150, March.
  8. Boersma, P. Dee & Parrish, Julia K., 1999. "Limiting abuse: marine protected areas, a limited solution," Ecological Economics, Elsevier, vol. 31(2), pages 287-304, November.
  9. R. Quentin Grafton & Leif K. Sandal & Stein Ivar Steinshamn, 2000. "How to Improve the Management of Renewable Resources: The Case of Canada's Northern Cod Fishery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(3), pages 570-580.
  10. Sanchirico, James & Wilen, James, 2000. "The Impacts of Marine Reserves on Limited-Entry Fisheries," Discussion Papers dp-00-34, Resources For the Future.
  11. Smith, Martin D. & Wilen, James E., 2003. "Economic impacts of marine reserves: the importance of spatial behavior," Journal of Environmental Economics and Management, Elsevier, vol. 46(2), pages 183-206, September.
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Cited by:
  1. Greenville, Jared W. & MacAulay, T. Gordon, 2006. "Protected areas in fisheries: a two-patch, two-species model," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(2), June.
  2. Jared Greenville & T. Gordon MacAulay, 2006. "Protected areas in fisheries: a two-patch, two-species model ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(2), pages 207-226, 06.
  3. Greenville, Jared W. & MacAulay, T. Gordon, 2006. "A Bioeconomic Analysis of Protected Area use in Fisheries Management," 2006 Annual meeting, July 23-26, Long Beach, CA 21469, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. Greenville, Jared W. & MacAulay, T. Gordon, 2006. "A Bioeconomic Analysis of Protected Area use in Fisheries Management," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 139738, Australian Agricultural and Resource Economics Society.
  5. Greenville, Jared W. & MacAulay, T. Gordon, 2006. "Marine Protected Areas in Fisheries Management," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25532, International Association of Agricultural Economists.
  6. 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.

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