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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 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
UTAS Author:	Yamazaki, S (Associate Professor Satoshi Yamazaki)
ID Code:	67656
Year Published:	2010
Web of Science® Times Cited:	12
Deposited By:	Economics and Finance
Deposited On:	2011-03-07
Last Modified:	2014-10-06
Downloads:	0