CO-DEVELOPMENT OF COASTAL RESOURCES: OIL vs. MARICULTURE

Leasing coastal areas so as to develop a single resource is wasteful and often leads to conflicts. Some uses impose negative externalities on other resource-dependent uses, but such externalities should not preclude co-development a priori. This paper describes a theoretical economic model of joint development for energy resources and mariculture showing the scientific data necessary so as to determine the optimal output for each activity in every location and to choose the optimal lease boundaries. Copyright 1991 Western Economic Association International.