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Non-consumptive values and optimal marine reserve switching

Citation

Yamazaki, S and Grafton, RQ and Kompas, T, Non-consumptive values and optimal marine reserve switching, Ecological Economics, 69, (12) pp. 2427-2434. ISSN 0921-8009 (2010) [Refereed Article]


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DOI: doi:10.1016/j.ecolecon.2010.07.011

Abstract

A bioeconomic model is constructed to analyze spatial harvesting and the effects of marine reserve "switching" between a "no-take" area and a harvested area while accounting for both harvesting/consumptive and also non-consumptive values of the fishery. Using estimated parameters from the red throat emperor fishery from the Great Barrier Reef, simulations show that an optimal switching strategy can be preferred to a fixed reserve regime, but is dependent on spillovers from reserves to harvested areas, the nature of shocks to the environment, the size of the non-consumptive values and how they change with the biomass, and the sensitivity of profits to the harvest and biomass. Importantly, the results show that how non-consumptive values change with the size of the fishery substantially affects both the returns from switching and the optimal closure time.

Item Details

Item Type:Refereed Article
Keywords:Marine reserves; Stochastic control; Non-consumptive values
Research Division:Economics
Research Group:Applied Economics
Research Field:Environment and Resource Economics
Objective Division:Economic Framework
Objective Group:Other Economic Framework
Objective Field:Ecological Economics
Author:Yamazaki, S (Dr Satoshi Yamazaki)
ID Code:67656
Year Published:2010
Web of Science® Times Cited:7
Deposited By:Economics and Finance
Deposited On:2011-03-07
Last Modified:2014-10-06
Downloads:0

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