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Non-Market Values and Optimal Marine Reserve Switching

Author

Listed:
  • Yamazaki, Satoshi
  • Grafton, R. Quentin
  • Kompas, Tom

Abstract

A stochastic bio-economic model is constructed to analyse the effects of marine reserve ‘switching’ between a ‘no take’ area and a harvested area. The model accounts for both market and non-market values of the fishery. Estimated parameters from the red throat emperor fishery from the Great Barrier Reef are used. Simulations show that an optimal switching strategy is, under a range of scenarios, preferred to fixed reserve and no reserve strategies. An important outcome is that the non-market values associated with the size of the fishery substantially affect both the returns from switching and the closure time.

Suggested Citation

  • Yamazaki, Satoshi & Grafton, R. Quentin & Kompas, Tom, 2009. "Non-Market Values and Optimal Marine Reserve Switching," Research Reports 94825, Australian National University, Environmental Economics Research Hub.
    • Handle: RePEc:ags:eerhrr:94825
    DOI: 10.22004/ag.econ.94825
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    Keywords

    Environmental Economics and Policy; Research Methods/ Statistical Methods;

    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

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