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Cod Today and None Tomorrow: The Economic Value of a Marine Reserve

C-FOAM Seminar Series on Best Practices and the OMRN Dialogues on Ocean Policy, Fisheries & Aquaculture Working Group present:. Cod Today and None Tomorrow: The Economic Value of a Marine Reserve. Dr. Quentin Grafton, Asia Pacific School of Economics and Government (APSEG),

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Cod Today and None Tomorrow: The Economic Value of a Marine Reserve

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  1. C-FOAM Seminar Series on Best Practices and the OMRN Dialogues on Ocean Policy, Fisheries & Aquaculture Working Group present: Cod Today and None Tomorrow: The Economic Value of a Marine Reserve Dr. Quentin Grafton, Asia Pacific School of Economics and Government (APSEG), The Australian National University Time: 2:30p.m. Thursday, July 12, 2007 Place: Vanier Hall, Room VNR384 Abstract. Using data from what was once one of the world’s largest capture fisheries the economic value of a marine reserve is calculated using a stochastic optimal control model with a jump-diffusion process. The results show that with a stochastic environment an optimal-sized marine reserve can generate a triple payoff that (a), raises the resource rent even when harvesting is ‘optimal’, (b) decreases the recovery time for the biomass to return to its former state and smooths fishers’ harvests and resource rents, and (c), lowers the chance of a catastrophic collapse following a negative shock. La seminaire sera presenté en anglais./The presentation will be given in English. www.C-FOAM.management.uottawa.ca; www.management.uottawa.ca www.OMRN-RRGO.ca

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