Transcript No Slide Title

C-FOAM Seminar Series on Best Practices and the OMRN Dialogues on
Ocean Policy, Fisheries & Aquaculture Working Group present:
Cod Today and None Tomorrow:
The Economic Value of a Marine Reserve
Dr. Quentin Grafton,
Asia Pacific School of Economics and
Government (APSEG),
The Australian National University
Time:
Place:
2:30p.m.
Thursday, July 12, 2007
Vanier Hall, Room VNR384
Abstract. 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.
La seminaire sera presenté en anglais./The presentation will be given in English.
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