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By J.C.J.M. van den Bergh, J. Hoekstra, R. Imeson, P.A.L.D. Nunes, A.T. de Blaeij

This ebook bargains an environmental-economic research of exploited ecosystems with a transparent coverage orientation. The examine strikes past conventional financial fishery research in respects. First, a number of theoretical and numerical types are provided that mix fiscal and ecological descriptions of fisheries. moment, valuation and stakeholder issues are addressed in empirical analyses utilizing either qualitative and quantitative techniques. The techniques, versions and coverage insights are sufficiently common and leading edge to curiosity a large viewers.

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Example text

We assume that the fish population growth equation is as used in the Gordon–Schaefer model (Equation (4)). It can now easily be shown that the catch output on the market is zero when p < (c/q K ), as the profit that can be obtained falls below zero. This can be seen by noting that the optimum fish population level for the Gordon–Schaefer model (using Equation (7) and a growth function as given by 3 A sole owner is not the same as a monopolist who completely controls the fish market supply and is able to set a price to maximize profits.

If, however, property rights were allocated to a sole-owner who is a profit maximizer, be it a single fisherman or a government managing body, positive economic profits would accrue from the fishery. Surprisingly the sole-owner will not catch as many fish as he can sustainably do but will fish less (point A) than at the MSY level. In fact, for any growth curve of a shape similar to the one in the Gordon–Schaefer model and for any non-negative linear cost function of effort he will never fish beyond the MSY level.

Where the focus is depends on the question one tries to answer with the model. MERGE (Manne and Richels, 1992), for example, is a general equilibrium model with a relatively complex economy and a simple climate part. Its aim is to find costeffective emission strategies. , 2000) is a model that focuses on the natural sciences part of the climate change problem. The economic dimension of climate change is modeled in an extremely simple way. Its aim is to illustrate the physical impacts of climate change, such as sea level rise, given greenhouse gas emission scenarios.

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