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Non-consumptive values and optimal marine reserve switching

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

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.

Suggested Citation

  • Yamazaki, Satoshi & Grafton, R. Quentin & Kompas, Tom, 2010. "Non-consumptive values and optimal marine reserve switching," Ecological Economics, Elsevier, vol. 69(12), pages 2427-2434, October.
    • Handle: RePEc:eee:ecolec:v:69:y:2010:i:12:p:2427-2434
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    References listed on IDEAS

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    1. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, December.
    2. R. Grafton & Tom Kompas & Viktoria Schneider, 2005. "The Bioeconomics of Marine Reserves: A Selected Review with Policy Implications," Journal of Bioeconomics, Springer, vol. 7(2), pages 161-178, January.
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    8. Clark, Colin W. & Munro, Gordon R., 1975. "The economics of fishing and modern capital theory: A simplified approach," Journal of Environmental Economics and Management, Elsevier, vol. 2(2), pages 92-106, December.
    9. R. Quentin Grafton & Tom Kompas & Pham Van Ha, 2006. "The Economic Payoffs from Marine Reserves: Resource Rents in a Stochastic Environment," The Economic Record, The Economic Society of Australia, vol. 82(259), pages 469-480, December.
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    Cited by:

    1. Nichols, Rachel & Yamazaki, Satoshi & Jennings, Sarah, 2018. "The Role of Precaution in Stock Recovery Plans in a Fishery with Habitat Effect," Ecological Economics, Elsevier, vol. 146(C), pages 359-369.
    2. Yamazaki, Satoshi & Jennings, Sarah & Quentin Grafton, R. & Kompas, Tom, 2015. "Are marine reserves and harvest control rules substitutes or complements for rebuilding fisheries?," Resource and Energy Economics, Elsevier, vol. 40(C), pages 1-18.
    3. Pintassilgo, Pedro & Laukkanen, Marita & Kronbak, Lone Grønbæk & Lindroos, Marko, 2015. "International Fisheries Agreements and Non-consumptive Values," Discussion Papers on Economics 8/2015, University of Southern Denmark, Department of Economics.
    4. Chu, Long & Grafton, R. Quentin & Kompas, Tom, 2022. "Optimisation of economic performance and stock resilience in marine capture fisheries," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 863-875.

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