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Cod today and none tomorrow: the economic value of a marine reserve: WORKING PAPER

This record describes, and links to a working paper produced through the Crawford School of Economics and Government at The Australian National University in Canberra.


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.

Data and Resources

Additional Info

Field Value
Title Cod today and none tomorrow: the economic value of a marine reserve: WORKING PAPER
Type Dataset
Language English
Licence Other
Data Status inactive
Landing Page http://data.gov.au/dataset/45cb6042-c144-461b-bdae-2461ca7bdf60
Date Published 2017-06-24
Date Updated 2017-06-24
Contact Point
Crawford School of Public Policy (CSPP), The Australian National University (ANU)
tom.kompas@anu.edu.au
Jurisdiction Commonwealth of Australia
Data Portal Australian Oceans Data Network CSW Harvester
Publisher/Agency Crawford School of Public Policy (CSPP), The Australian National University (ANU)
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