Economics

A comparison of regional and national values for recovering threatened and endangered marine species in the United States

Wallmo K, Lew DK. A comparison of regional and national values for recovering threatened and endangered marine species in the United States. Journal of Environmental Management [Internet]. 2016 ;179:38 - 46. Available from: http://www.sciencedirect.com/science/article/pii/S0301479716302249
Freely available?: 
No
Summary available?: 
No
Type: Journal Article

It is generally acknowledged that willingness-to-pay (WTP) estimates for environmental goods exhibit some degree of spatial variation. In a policy context, spatial variation in threatened and endangered species values is important to understand, as the benefit stream from policies affecting threatened and endangered species may vary locally, regionally, or among certain population segments. In this paper we present WTP estimates for eight different threatened and endangered marine species estimated from a stated preference choice experiment. WTP is estimated at two different spatial scales: (a) a random sample of over 5000 U.S. households and (b) geographically embedded samples (relative to the U.S. household sample) of nine U.S. Census regions. We conduct region-to-region and region-to-nation statistical comparisons to determine whether species values differ among regions and between each region and the entire U.S. Our results show limited spatial variation between national values and values estimated from regionally embedded samples, and differences are only found for three of the eight species. More variation exists between regions, and for all species there is a significant difference in at least one region-to-region comparison. Given that policy analyses involving threatened and endangered marine species can often be regional in scope (e.g., ecosystem management) or may disparately affect different regions, our results should be of high interest to the marine management community.

The economic implications of changing regulations for deep sea fishing under the European Common Fisheries Policy: UK case study

Mangi SC, Kenny A, Readdy L, Posen P, Ribeiro-Santos A, Neat FC, Burns F. The economic implications of changing regulations for deep sea fishing under the European Common Fisheries Policy: UK case study. Science of The Total Environment [Internet]. 2016 ;562:260 - 269. Available from: http://www.sciencedirect.com/science/article/pii/S0048969716306416
Freely available?: 
No
Summary available?: 
No
Type: Journal Article

Economic impact assessment methodology was applied to UK fisheries data to better understand the implications of European Commission proposal for regulations to fishing for deep-sea stocks in the North-East Atlantic (EC COM 371 Final 2012) under the Common Fisheries Policy (CFP). The aim was to inform the on-going debate to develop the EC proposal, and to assist the UK fishing industry and Government in evaluating the most effective options to manage deep sea fish stocks. Results indicate that enforcing the EC proposal as originally drafted results in a number of implications for the UK fleet. Because of the proposed changes to the list of species defined as being deep sea species, and a new definition of what constitutes a vessel targeting deep sea species, a total of 695 active UK fishing vessels would need a permit to fish for deep sea species. However, due to existing and capped capacity limits many vessels would potentially not be able to obtain such a permit. The economic impact of these changes from the status quo reveals that in the short term, landings would decrease by 6540 tonnes, reducing gross value added by £3.3 million. Alternative options were also assessed that provide mitigation measures to offset the impacts of the proposed regulations whilst at the same time providing more effective protection of deep sea Vulnerable Marine Ecosystems (VMEs). The options include setting a 400 m depth rule that identifies a depth beyond which vessels would potentially be classified as fishing for deep sea species and designating ‘core areas’ for deep sea fishing at depths > 400 m to minimise the risk of further impacts of bottom fishing gear on deep sea habitats. Applying a 400 m depth limit and ‘core fishing’ area approach deeper than 400 m, the impact of the EC proposal would essentially be reduced to zero, that is, on average no vessels (using the status quo capacity baseline) would be impacted by the proposal.

Recreational Fishing in New Zealand - A Billion Dollar Industry

Holdsworth J, Rea T, Southwick R. Recreational Fishing in New Zealand - A Billion Dollar Industry. New Zealand Marine Research Foundation; 2016.
Freely available?: 
Yes
Summary available?: 
No
Type: Report

In 2014 the New Zealand Marine Research Foundation decided it was time we all had a better understanding of the economic contribution that fishing-related recreation makes at a national and regional level. A project was initiated and experienced international researchers Southwick Associates were engaged. The technical report, Estimating Marine Recreational Fishing’s Economic Contributions in New Zealand - Technical Steps, includes the methodology used and describes the results in full, and will be available after the peer review process.

This document summarises the technical report. It delivers some hard hitting, simple and persuasive facts that can be used to improve fisheries management and stewardship through greater public awareness of what recreational fishing brings to our fine nation. 

The Role of Economics in Ecosystem Based Management: The Case of the EU Marine Strategy Framework Directive; First Lessons Learnt and Way Forward

Oinonen S, Börger T, Hynes S, Buchs AKatrin, Heiskanen A-S, Hyytiäinen K, Luisetti T, van der Veeren R. The Role of Economics in Ecosystem Based Management: The Case of the EU Marine Strategy Framework Directive; First Lessons Learnt and Way Forward. Journal of Ocean and Coastal Economics [Internet]. 2016 ;2(2). Available from: http://cbe.miis.edu/joce/vol2/iss2/3/
Freely available?: 
Yes
Summary available?: 
No
Type: Journal Article

The EU Marine Strategy Framework Directive (MSFD) sets out a plan of action relating to marine environmental policy and in particular to achieving ‘good environmental status’ (GES) in European marine waters by 2020. Article 8.1 (c) of the Directive calls for ‘an economic and social analysis of the use of those waters and of the cost of degradation of the marine environment’. The MSFD is ‘informed’ by the Ecosystem Approach to management, with GES interpreted in terms of ecosystem functioning and services provision. Implementation of the Ecosystem Approach is expected to be by adaptive management policy and practice. The initial socio-economic assessment was made by maritime EU Member States between 2011 and 2012, with future updates to be made on a regular basis. For the majority of Member States, this assessment has led to an exercise combining an analysis of maritime activities both at national and coastal zone scales, and an analysis of the non-market value of marine waters. In this paper we examine the approaches taken in more detail, outline the main challenges facing the Member States in assessing the economic value of achieving GES as outlined in the Directive and make recommendations for the theoretically sound and practically useful completion of the required follow-up economic assessments specified in the MSFD.

Public willingness to pay for alternative management regimes of remote marine protected areas in the North Sea

Brouwer R, Brouwer S, Eleveld MA, Verbraak M, Wagtendonk AJ, van der Woerd HJ. Public willingness to pay for alternative management regimes of remote marine protected areas in the North Sea. Marine Policy [Internet]. 2016 ;68:195 - 204. Available from: http://www.sciencedirect.com/science/article/pii/S0308597X16300823
Freely available?: 
No
Summary available?: 
No
Type: Journal Article

Despite increasing attention paid to the value of marine resources, in particular marine protected areas (MPAs), their economic valuation focuses mainly on use values of ecosystem services such as fishery and tourism. Furthermore, most MPA related studies are carried out for coastal ecosystems, especially tropical coral reefs. The valuation of remote marine ecosystems is rare. The main objective of this paper is to estimate public willingness to pay (WTP) for alternative management regimes of a network of offshore MPAs in the North Sea under the Marine Strategy Framework Directive (MSFD). In a baseline valuation study carried out just before the adoption of the MSFD, beach visitors and a random sample of coastal and non-coastal residents were asked for their preferences for two alternative management options of three remote, ecologically sensitive areas with multiple use conflicts. Despite the lack of public awareness and familiarity with the offshore marine areas, a majority of 70% is willing to pay extra tax for their protection. Using a conservative value elicitation procedure, Dutch households are willing to pay on average maximum 0.25% of their annual disposable income to ban access and economic use. This serves as an indicator of what a network of remote MPAs in the MSFD is allowed to cost according to the Dutch tax payer.

The economic value of environmental data: a notional insurance scheme for the European anchovy

Rincón MMaría, Mumford JD, Levontin P, Leach AW, Ruiz J. The economic value of environmental data: a notional insurance scheme for the European anchovy. ICES Journal of Marine Science [Internet]. 2016 ;73(4):1033 - 1041. Available from: http://icesjms.oxfordjournals.org/content/73/4/1033.abstract?etoc
Freely available?: 
Yes
Summary available?: 
No
Type: Journal Article

Anchovy population dynamics in the Gulf of Cádiz are governed by environmental processes. Sea surface temperature, intense easterly winds, and discharges from the Guadalquivir River have been identified as key factors determining early life stage mortality in this anchovy stock. We have constructed an environment-based recruitment model that simulates the abundance of juveniles under alternative parameters representing plausible biological hypotheses. We are able to evaluate how modelling environment-based recruitment can affect stock assessment and how responding to environmental information can benefit fishery management to allow greater average catch levels through the application of harvest control rules (HCRs) based on environmental conditions. While the environment-based rules generally increase allowable catch levels the variance in catch levels also increases, detracting from the improved value based only on average yield. In addition to changes in revenue, the probability of stock collapse is also reduced by using environmental factors in HCRs. To assess the value of these management systems we simulate a notional insurance scheme, which applies a value to both average yields and uncertainty. The value of the information-driven rules can be determined by comparing the relevant premiums payable for equal levels of insurance cover on revenue within each specific management regime. We demonstrate the net value of incorporating environmental factors in the management of anchovies in the Gulf of Cádiz despite the increased variability in revenue. This could be an effective method to describe outcomes for both commercial fisheries and ecosystem management policies, and as a guide to management of other species whose dynamics are predictable based on in-season observations.

Economic valuation of Baltic marine ecosystem services: blind spots and limited consistency

Sagebiel J, Schwartz C, Rhozyel M, Rajmis S, Hirschfeld J. Economic valuation of Baltic marine ecosystem services: blind spots and limited consistency. ICES Journal of Marine Science [Internet]. 2016 ;73(4):991 - 1003. Available from: http://icesjms.oxfordjournals.org/content/73/4/991.abstract?etoc
Freely available?: 
No
Summary available?: 
No
Type: Journal Article

Economic valuation of marine ecosystem services in the Baltic Sea region has gained importance, as policy-makers are recognizing their decline and focusing on achieving good environmental status there in terms of, for example, reduced eutrophication. Parallel with this development, several initiatives have been launched, leading to a large number of economic valuation studies. However, current research indicates that neither a common approach to classifying ecosystem services nor a widely accepted methodological framework for assessing their economic value exist yet. This paper seeks to shed light on the current state of the economic valuation of ecosystem services provided by the Baltic Sea through reviewing all currently available empirical studies on the topic. The results indicate that only a few ecosystem services, including recreation and reduction of eutrophication, have been extensively monetarily valued, and still lack cross-study methodological consistency, while many other marine ecosystem services have rarely or never been valued with economic methods. The paper concludes that existing economic valuation studies provide only limited practical guidance for policy-makers intending to improve the environmental status of the Baltic Sea. There is a need for more widely shared agreement on the systematic nature of marine and coastal ecosystem services and especially on a coherent methodological framework for assessing their economic value.

The Cost of Mediterranean Sea Warming and Acidification: A Choice Experiment Among Scuba Divers at Medes Islands, Spain

Rodrigues LC, van den Bergh JCJM, Loureiro ML, Nunes PALD, Rossi S. The Cost of Mediterranean Sea Warming and Acidification: A Choice Experiment Among Scuba Divers at Medes Islands, Spain. Environmental and Resource Economics [Internet]. 2016 ;63(2):289 - 311. Available from: http://link.springer.com/article/10.1007%2Fs10640-015-9935-8
Freely available?: 
No
Summary available?: 
No
Type: Journal Article

A choice experiment is undertaken to elicit preferences of scuba divers in the Marine Protected Area of Medes Islands (Spain). This is the first non-market valuation study of a typical Mediterranean habitat, the Coralligenous, which is characterized by high biodiversity, geomorphologic complexity and iconic species like gorgonians. This habitat is not only very attractive for scuba diving, but is also threatened by climate change and ocean acidification, which is our motivation for undertaking this valuation study. Choice attributes include the number of divers on a diving trip, underwater landscape, presence of jellyfish species, expected state of gorgonians, and price of a dive. Results of multinomial and random parameter logit models indicate a decrease in the attractiveness of Coralligenous areas for scuba diving as a result of both environmental pressures. Estimates of welfare values show that the local extinction of gorgonians had the highest negative effect on utility equivalent to a cost of €60 per dive, followed by abundance of stinging jellyfish with a cost of €26 per dive. Choice probabilities for the selection of different dive experiences indicate the highest rejection rates for the combined sea warming and acidification scenarios.

Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary

Stefanski SF, Shimshack JP. Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary. Marine Resource Economics [Internet]. 2016 . Available from: http://www.journals.uchicago.edu/doi/10.1086/685109
Freely available?: 
No
Summary available?: 
No
Type: Journal Article

Ecological diversity is especially high in the Gulf of Mexico, and multiple Gulf of Mexico resources imply complex management challenges. Yet, relatively little is known about social values of marine biodiversity in the Gulf of Mexico. This article uses results from a stated preference survey of nationally representative households to quantify economic values. The specific assessment scenario involves a current policy proposal to expand the boundaries of the Flower Garden Banks National Marine Sanctuary. Willingness to pay estimates range from $35–$107 per household. Respondent characteristics are related to willingness to pay in ways consistent with economic intuition and theory. We conclude with aggregate willingness to pay calculations, and results suggest that total social benefits of marine reserve expansion in the Gulf region are large.

State of the U.S. Ocean and Coastal Economies 2014

Kildow JT, Colgan CS, Scorse JD, Johnston P, Nichols M. State of the U.S. Ocean and Coastal Economies 2014. Monterey, California: National Ocean Economics Program, Center for a Blue Economy at the Monterey Institute of International Studies; 2014. Available from: http://oceaneconomics.org/Download/
Freely available?: 
Yes
Summary available?: 
No
Type: Report

The nation’s coasts and oceans contribute much to the United States economy. For the past 14 years, the National Ocean Economics Program (NOEP), now a program of the Center for the Blue Economy at the Monterey Institute of International Studies, has compiled time-series data that track economic activities, demographics, ports and cargo volume and value, natural resource production and value, non-market values, and federal expenditures in the U.S. coastal zone both on land and in the water. A report on the ocean and coastal economies of the United States was released by NOEP in 2009 covering data through 2005. This report is an update of that study covering the period 2007–2012. State summaries from this report are available on the NOEP website under publications. The major conclusions of the report are summarized here.

All of the data discussed in this report are available on the NOEP website at www.oceaneconomics.org. In 2010, the Coastal Services Center of the National Oceanic and Atmospheric Administration (NOAA) took over production of the Ocean Economy data series using a methodology developed by NOEP that combines existing federal data from the U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, and the U.S. Census Bureau. Therefore, the Ocean Economy data are also available from NOAA’s Coastal Services Center in a different format, at http://www.csc.noaa.gov/digitalcoast/data/enow.

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