In May 2016, the NOAA Science Advisory Board, Ecosystem Services and Management Working Group, submitted a report to the NOAA Administrator entitled, An Assessment of the Use and Potential Use of Ecosystem Service Valuation (ESV) within NOAA: A Report from the NOAA Science Advisory Board”. While the report covers all...
Ideally, we seek to develop perfectly integrated ecological-economic models, drawing on the best data, modeling and knowledge of each of the disciplines, into one coherent model to inform policy. The realities of achieving such are thwarted by data and model compatibility issues. For example, ecological data may be available on...
License and vessel buybacks continue to be utilized by fishery managers to achieve reductions in actual and latent fishing effort worldwide. While there is debate about their effectiveness in achieving sustainability, the design of alternative implementing mechanisms has received less attention. When participation is assumed endogenous, the specific features of...
Marine scientists and policymakers are encouraging ecosystem-based fishery management (EBFM), but there is limited guidance on how to operationalize the concept. We develop a method for EBFM based on financial asset management that uses the joint probability distribution of species in an ecosystem. Illustrating our method with the Chesapeake Bay,...