Skip navigation
Skip navigation

Cod today and none tomorrow: The economic value of a marine reserve

Grafton, R. Quentin; Kompas, Tom; Pham, Van Ha


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 jumpdiffusion 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...[Show more]

CollectionsANU Research Publications
Date published: 2005-07
Type: Working/Technical Paper
Source: Land Economics


File Description SizeFormat Image
Grafton_Cod2005.pdf469.63 kBAdobe PDFThumbnail

Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.

Updated:  20 July 2017/ Responsible Officer:  University Librarian/ Page Contact:  Library Systems & Web Coordinator