Saving the Seas: The Economic Justification for Marine Reserves
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.
|Date of creation:||Mar 2004|
|Date of revision:|
|Contact details of provider:|| Web page: http://een.anu.edu.au/|
References listed on IDEAS
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- repec:cup:macdyn:v:1:y:1997:i:1:p:45-75 is not listed on IDEAS
- 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.
- Sanchirico, James & Wilen, James, 2000. "The Impacts of Marine Reserves on Limited-Entry Fisheries," Discussion Papers dp-00-34, Resources For the Future.
- 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.
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