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Encumbering harvest rights to protect marine environments: a model of marine conservation easements

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  • Deacon, Robert T.
  • Parker, Dominic P.

Abstract

We adapt the concept of a conservation easement to a marine environment and explore its use to achieve conservation goals. Although marine environments generally are not owned, those who use them for commercial fishing often are regulated. These regulations grant harvesters rights to use marine environments in specified ways, and the possibility of encumbering these rights to achieve conservation goals creates a potential role for marine easements. We examine this potential under alternative fishery management regimes and find, generally, that marine easements tend to be most effective when harvest rights are delineated most fully. Our analysis suggests ways that marine easements can have flexibility and transactions cost advantages over other approaches to achieve marine conservation goals. We also propose ways in which the design of laws allowing marine easements should follow, or depart from, the design of laws authorising conservation easements on land.

Suggested Citation

  • Deacon, Robert T. & Parker, Dominic P., 2009. "Encumbering harvest rights to protect marine environments: a model of marine conservation easements," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 53(1), pages 1-22.
  • Handle: RePEc:ags:aareaj:161914
    DOI: 10.22004/ag.econ.161914
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    1. Boyd, James & Caballero, Kathryn & Simpson, R. David, 1999. "The Law and Economics of Habitat Conservation: Lessons from an Analysis of Easement Acquisitions," Discussion Papers 10587, Resources for the Future.
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    Cited by:

    1. Heidi Gjertsen & Theodore Groves & David A Miller & Eduard Niesten & Dale Squires & Joel Watson, 2021. "Conservation Agreements: Relational Contracts with Endogenous Monitoring," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 37(1), pages 1-40.
    2. Heidi Gjertsen & Theodore Groves & David A. Miller & Eduard Niesten & Dale Squires & Joel Watson, 2014. "A Contract-theoretic Model of Conservation Agreements," World Scientific Book Chapters, in: Kaddour Hadri & William Mikhail (ed.), Econometric Methods and Their Applications in Finance, Macro and Related Fields, chapter 15, pages 425-455, World Scientific Publishing Co. Pte. Ltd..
    3. Molina, Renato & Costello, Christopher & Kaffine, Daniel, 2024. "Sharing and expanding the co-benefits of conservation," Ecological Economics, Elsevier, vol. 218(C).

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