Valuing the recovery of overexploited fish stocks in the context of existence and option values
The current reduction in commercial fish stocks is a problem of global concern. In response to this situation, administrations around the world are attempting to recover critical stocks by implementing new regulations based on catching restrictions and recovery plans. These restrictions have negative effects on local economies, but species recovery also brings important benefits to society in the long term. Given that the recovery of endangered species also results in considerable non-use economic value, this paper employs contingent valuation techniques to measure individual preferences for different recovery levels. We distinguish primarily between existence and option values linked to various levels of the desired stocks and discuss how these values influence willingness to pay (WTP) estimates. Our results show that recovered stocks for hake and Norwegian lobster increase local welfare, and show that the median household WTP is about 17.73[euro] for a recovery programme regulated by the European Union.
When requesting a correction, please mention this item's handle: RePEc:eee:marpol:v:34:y:2010:i:3:p:514-521. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.