The Premium of Marine Protected Areas: A Simple Valuation Model
2008en
ABI
Abstract
The article addresses the induced cost, the premium, from establishing a marine protected area in a deterministic model of a fishery. Outside the protected area, the fishery is managed optimally through total allowable catch quotas. The premium is found to be increasing and convex along the protection parameter. Biological measures are introduced to increase the understanding of the mechanisms in the bioeconomic system. Time-series solutions show that the net return per unit offish increases after the protected area is established.
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Cited by 20 references