The federal and state governments have many different roles to play in addressing the regional impacts of hurricanes. Ranging from hurricane prediction and preparedness to damage assessment and economic recovery, the role of the federal government is one of ensuring human safety and providing for the protection of private property....
Resource rents are an important indicator of the economic viability of the living marine resources. Rent dissipation is normally an indicator of a poorly managed, overfished stock of fish. Rent dissipation in the US Gulf of Mexico Shrimp Fishery is more an indicator of the lack of management since recruitment...
Understanding the complexities of ecosystems is difficult enough, but when the human dimension is added to the inherent uncertainty and risk in fisheries management, the actual versus expected results move from the counter-intuitive to the paradoxical. Without an adequate understanding of the interrelationships between ecosystem components, including the human dimension,...
Excess capacity results because fishermen do not have an incentive to conserve fish in-the-sea causing them to over-invest in the capital used to harvest fish as well as other production or factor inputs.1 Excess capacity like overcapitalization and overfishing is a symptom of our regulated, open access fishery management system....
These experiences working on regional and national problems for fisheries managers in NMFS have given me a perspective on the role of economics in fisheries management that I am going to share with you today. I would like to stress that this perspective is unique to me and does not...