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Dynamic Use of Closures and Imperfectly Enforced Quotas in a Metapopulation

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  • Guillermo E. Herrera

Abstract

The dynamic efficiency of closures in bioeconomic systems depends upon stock levels and in situ values that evolve over time, and on relative costs of implementation. A model of a harvested metapopulation is presented in which second-best reduction of harvest from open-access levels using input quotas balances monitoring costs against dynamic benefits of mitigating overharvesting. Temporary or permanent closures—though generally still second best—are preferable to quotas under certain conditions, as demonstrated for a representative patch and time period. Interactions between patches are discussed. Numerical solutions illustrate comparative dynamics of closure use, and show their potential benefits in a dynamic regulatory path. Copyright 2007, Oxford University Press.

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  • Guillermo E. Herrera, 2007. "Dynamic Use of Closures and Imperfectly Enforced Quotas in a Metapopulation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(1), pages 176-189.
    • Handle: RePEc:oup:ajagec:v:89:y:2007:i:1:p:176-189
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.00971.x
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    Cited by:

    1. A. Hoff & J. Andersen & A. Christensen & H. Mosegaard, 2013. "Modelling the economic consequences of Marine Protected Areas using the BEMCOM model," Journal of Bioeconomics, Springer, vol. 15(3), pages 305-323, October.
    2. Roumasset, James A. & Wada, Christopher A., 2012. "Ordering the extraction of renewable resources: The case of multiple aquifers," Resource and Energy Economics, Elsevier, vol. 34(1), pages 112-128.

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