In this paper a real options approach is taken to natural resource contract valuation. A comparison is made between hedging with futures on developed (harvested) versus undeveloped assets. The risk-free Q martingale probability measure is obtained for the developed asset, and modified to a cost-adjusted Q martingale in the undeveloped...
Research of value chains in fish industries indicates that there is great
difference in value creation of the domestic part of the value chain between
countries with underdeveloped fish industries and developed fish
industries. This comparison is founded on the authors´ research on the
value chains of Icelandic cod and...
Complex social–ecological systems such as small-scale fisheries require the inclusion of human dimensions in fisheries management and planning for simultaneously preserving human health and habitat health. However, linkages between ecological, social, political and economic subsystems have been largely ignored in conventional fisheries management, in Nigeria in particular. Hence, the weak...
Complex social–ecological systems such as small-scale fisheries require the inclusion of human dimensions in fisheries management and planning for simultaneously preserving human health and habitat health.However, linkages between ecological, social, political and economic subsystems have been largely ignored in conventional fisheries management, in Nigeria in particular. Hence, the weak governance...
The study contains a cost benefit analysis of the aquaculture development component of the Fish Farming Enterprise Productivity Program (FFEPP) undertaken for Meru County in Kenya. It focuses on the implementation of the FFEPP undertaken from 2009 up to 2013 and evaluates its benefits and costs against the opportunity cost...
Feedbacks between the ecosystem and the economy are important to consider when measuring impacts from a disturbance but are often missed in representations of the economy and the food web. Moreover, regional general equilibrium models often focus on how humans respond to ecological changes and do not consider that in...
The productivity and resilience of fisheries are subject to a multitude of dynamic and interrelated influences that arise from complex coupling of fish populations with the natural and human systems of which they are a part. With few exceptions, fisheries are managed independently, ignoring important natural and human linkages among...
Focus groups were combined with surveys to inform policy making regarding precautionary measures to protect cold water coral (CWC). CWC represent complex environmental public goods involving irreversibility and uncertainty. Respondents believe CWC is valuable and should be protected. Use-values, particularly habitat for fish, dominated the focus group discussions, whereas non-use...
This paper discusses sustainable development of Yemeni fisheries towards achievement of Millennium Development Goals (MDG) and stakeholder aspiration. Yemen is considered a Least Developed Country ranking 148 among 174 countries in terms of the Human Development Index. In terms of food security, Yemen is classified as a Low-Income and Food...
The harvest technology of several multispecies fisheries has been explained in the recent literature using dual-based models. These studies are useful for explaining rent dissipation, estimating input and output elasticities, as well as describing other aspects of fisherman behavior. Most of these analyses have assumed that inputs are fixed at...