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

Created 25/06/2017

Updated 11/08/2023

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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.

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Field Value
Title Cod today and none tomorrow: the economic value of a marine reserve: WORKING PAPER
Language English
Licence Not Specified
Landing Page https://data.gov.au/data/dataset/45cb6042-c144-461b-bdae-2461ca7bdf60
Contact Point
Crawford School of Public Policy (CSPP), The Australian National University (ANU)
tom.kompas@anu.edu.au
Reference Period 24/06/2017
Geospatial Coverage
Map data © OpenStreetMap contributors
{
  "coordinates": [
    137.13828,
    -28.61389
  ],
  "type": "Point"
}
Data Portal Data.gov.au