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The economic payoffs from marine reserves: resource rents in a stochastic environment: WORKING PAPER

Created 24/06/2025

Updated 24/06/2025

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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.

The paper analyses the economic payoffs from marine reserves using a stochastic optimal control model. The results show that even if the reserve and harvested populations face the same negative shocks, harvesting is optimal, the population is persistent and with no uncertainty over current stock size, a reserve can increase resource rents. Using actual fishery data we demonstrate that the payoffs from a reserve, and also optimum reserve size, increase the larger is the magnitude of the negative shock, the greater its frequency, and the larger its relative impact on the harvested population.

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Additional Info

Field Value
Title The economic payoffs from marine reserves: resource rents in a stochastic environment: WORKING PAPER
Language eng
Licence Not Specified
Landing Page https://data.gov.au/data/en/dataset/c202890b-e4ef-4336-8e65-8ca2057ee507
Contact Point
Australian Ocean Data Network
quentin.grafton@anu.edu.au
Reference Period 17/12/2014
Geospatial Coverage Australia
Data Portal Australian Oceans Data Network

Data Source

This dataset was originally found on Australian Oceans Data Network "The economic payoffs from marine reserves: resource rents in a stochastic environment: WORKING PAPER". Please visit the source to access the original metadata of the dataset:
https://catalogue.aodn.org.au/geonetwork/srv/eng/csw/dataset/the-economic-payoffs-from-marine-reserves-resource-rents-in-a-stochastic-environment-working-pa1