Risk plays a role in any situation where decisions must be made based on uncertain information. In finance, for example, investors must often choose between putting their money in a bank account with a low but guaranteed interest rate, or in a stock that may yield high returns but also has a chance of losing all value. The amount of risk that the investors are willing to accept is called risk tolerance. Inversely, the amount of risk the investors are unwilling to accept is called risk aversion. Both considerations affect investors' decision-making.
By Tundi Agardy, MEAM Contributing Editor. E-mail: tundiagardy [at] earthlink.net
Editor's note: The goal of The EBM Toolbox is to promote awareness of tools for facilitating EBM processes. It is brought to you by the EBM Tools Network (www.ebmtools.org), a voluntary alliance of tool users, developers, and training providers.
By Sarah Carr
US interagency task force releases proposal for new national ocean policy
The deep ocean may be the least-known place on Earth. From the sea floor upward, the oceanic water column represents the overwhelming majority of living space on the planet - 90%, by one recent estimate. Yet very little of the dark blue expanse has been explored by humans. Seemingly each deep sea research voyage discovers alien organisms with features or abilities we have never imagined before, much less seen.
In very general terms, the human mind has a logical side (the left half of the brain) and an emotional side (the right half). The activities of MPA planning and management tend to engage the logical side, involving the application of math and science and developing practical solutions to conservation challenges.
In an article in the June 2009 issue of PLoS ONE journal, researchers take a different look at the concept of planning marine reserves. They suggest that selecting the areas of the ocean that should remain fished may be a more efficient management policy than selecting the areas where fishing should be banned.
Dear MPA News:
There was much to like about the International Marine Conservation Congress [held this past May in Washington, D.C., U.S.] and much to learn from it. Conference attendees put an impressive amount of ecological knowledge on display. And the conference did not lack for compelling visions of what wise policies should look like.
MPA News and the EBM Tools Network will co-host a live Web-based seminar ("webinar") on 19 October 2009 to explore lessons learned from MPA networking programs in the Florida Keys National Marine Sanctuary (U.S.) and in rocky reef MPAs in the Mediterranean. Speakers will include: